File - People walk through a parking lot at the Blackberry campus in Waterloo in this September 23, 2013. (REUTERS/Mark Blinch)
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BlackBerry reported a steep drop in profit and revenue Friday as it transitions from a smartphone company to a software business under its new chief executive.Adjusted for onetime items, however, the company lost 8 cents per share, much better that the losses of 56 cents per share that Wall Street had expected, according to a poll by FactSet.Revenue fell to $976 million, the first time the company has seen revenue fall below $1 billion since late 2007, and short of the $1.1 billion analysts had projected. Blackberry reported revenue of $2.7 billion in the same quarter last year.The company said it sold 3.4 million smartphones in the quarter – 2.3 million of which were the older 7 models.
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