Cost cutting continues at BlackBerry as firm reports US$42-million net loss in Q1

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BlackBerry Ltd.'s chief executive says the company's preparations to divide up its business have so far produced millions in savings and put the business on a path to profitability. John Giamatteo told analysts Wednesday that the Waterloo, Ont.

BlackBerry Ltd.'s chief executive says the company's preparations to divide up its business have so far produced millions in savings and put the business on a path to profitability.

Giamatteo said Wednesday that he considered the work done so far"a significant achievement" that will deliver US$125 million in total savings. BlackBerry, which reports its financial performance in U.S. dollars, said the results amounted to a loss of seven cents US per share, compared with two cents US per share a year prior.

 

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