BlackBerry reports smaller-than-expected adjusted loss

Quarterly revenue dropped to $966 million from $3.07 billion a year earlier

BlackBerry Ltd reported a narrower than expected adjusted loss in June even as revenue fell in the midst of the troubled smartphone maker's turnaround push.

The Waterloo, Ontario-based company reported net income of $23 million, or 4 cents a share, compared with a loss of $84 million, or 16 cents, a year earlier. Excluding a one-time non-cash accounting gain and certain restructuring charges, the loss was $60 million, or 11 cents a share.

Quarterly revenue dropped to $966 million from $3.07 billion a year earlier.

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