BlackBerry CEO John Chen said Friday he's happy with his company's performance now that it has posted a surprise second-straight quarterly profit.
After massive cost-cutting, the Canadian-based software company on Friday posted fourth quarter net profit of $28 million, or 5 cents a share, compared with a year-earlier loss of $148 million, or 28 cents a share. Excluding one-time items, quarterly profit was $20 million, or 4 cents a share. Analysts, on average, looked for a loss of 4 cents a share.
Still, revenue came in below analysts' expectations. It slid to $660 million from $793 million, well below estimates of $786.4 million.
"We have now shown that we are financially under control," Chen said on CNBC's "Squawk Alley." "Now I need to stabilize the revenue and then I am going to start growing that."
The market reacted positively to the news and BlackBerry shares were up more than 1.6 percent Friday afternoon.