BlackBerry and Couche-Tard Earnings Shake Markets

Here’s a round-up of news for Canadian investors this week.

BlackBerry
Alimentation Couche-Tard

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BlackBerry beats expectations with a first-quarter profit

BlackBerry (TSX:BB)

Results for the first quarter of 2025 (all figures in USD):

Profit: $1.9 million (versus a loss of $41.4 million a year earlier)
Sales: $121.7 million (compared with $123.4 million in the prior year)

BlackBerry Ltd. reported a small net profit of USD 1.9 million for the first quarter of 2025, a notable improvement from a USD 41.4 million loss in the same quarter the previous year. On a per-share basis the company recorded essentially zero cents in net profit for the quarter, compared with a loss of seven cents per share a year earlier.

The Waterloo, Ontario-based company, which reports in U.S. dollars, disclosed adjusted net income of USD 12.3 million for the quarter. That figure contrasts with an adjusted loss of USD 14.3 million in the prior-year period, signaling operational progress even as revenues were slightly lower year over year.

Total revenue for the quarter was USD 121.7 million, down marginally from USD 123.4 million the prior year. Management highlighted stronger-than-expected performance in its QNX operating systems and secure communications divisions, which helped improve the company’s operating results despite slightly lower top-line sales.

BlackBerry also executed USD 10 million in share buybacks during the quarter, a move that can be interpreted as management’s confidence in the business and can modestly support shareholder value by reducing outstanding shares.

For investors, the quarter offers a mixed but broadly positive picture: improved profitability and adjusted income, offset by a small decline in revenue. The better-than-expected operating results and buybacks may be encouraging signs, but investors will likely want to monitor future revenue trends and the sustainability of growth in the company’s software and communications segments.

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Alimentation Couche-Tard profit, revenue down in Q4

Alimentation Couche-Tard (TSX:ATD)

Results for the fourth quarter of 2024 (all figures in USD):

Profit: $439.4 million (down from $453 million a year earlier)
Sales: $16.3 billion (down from $17.6 billion)

Alimentation Couche-Tard Inc. reported consolidated results for the fourth quarter showing net earnings of USD 442.3 million, slightly lower than USD 454.5 million in the same quarter a year earlier. Net earnings attributable to shareholders were USD 439.4 million, compared with USD 453 million in the prior-year period. Diluted earnings per share were USD 0.46 versus USD 0.47 a year ago.

Revenue for the quarter was USD 16.3 billion, a decline of roughly 7.5% year over year. The company attributed part of the decline to softer fuel demand in the United States, a factor that weighed on overall sales despite other areas of resilience.

Management noted that same-store sales trends varied by region: U.S. same-store sales were held steady amid economic and geopolitical headwinds, while Canada and Europe delivered stronger positive same-store sales performance. This geographic mix helped limit the revenue impact, though the overall annual comparison remained negative due to weaker fuel volumes.

For investors and analysts, the quarter underscores the sensitivity of convenience-store operators to fuel demand and regional economic conditions. Couche-Tard’s ability to hold or grow grocery, in-store and non-fuel sales in some markets suggests operational strength, but near-term revenue pressure from fuel remains a key point to watch.

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