BlackBerry posts profit in Q4, but revenue dips

Shares of smartphone maker BlackBerry surged more than 6% in early trading after the company beat profit estimates for the fourth quarter.

BlackBerry reported non-GAAP earnings of 4 cents per share, up from a loss of 8 cents during the same quarter last year. It also topped estimates of a loss of 4 cents, according to analysts polled by FactSet.

However, revenue fell short of Wall Street expectations. The company reported $660 million for the quarter. Analysts expected $792 million. During the quarter, BlackBerry sold 1.6 million smartphones.

"Our focus this past year was on getting our financial house in order while creating a multi-year growth strategy
and investing in our product portfolio," said BlackBerry CEO John Chen in a statement. "We now have a very good handle on our margins, and our product roadmaps."

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