TORONTO (Reuters) - BlackBerry Ltd
Shares jumped 10 percent in trading before the bell after BlackBerry said its gross profit margin in the quarter rose to 46.7 percent, from 33.9 percent a year earlier.
"The numbers certainly aren't great, but they could have been much worse," said Morningstar analyst Brian Colello.
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. Analysts, on average, had expected a loss of 25 cents a share, according to Thomson Reuters I/B/E/S.
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Quarterly revenue dropped to $966 million from $3.07 billion a year earlier.
The company's cash rose to $3.1 billion from $2.7 billion on a sequential basis, helped by gains from the sale of real estate assets and a tax refund.
BlackBerry's Nasdaq-listed shares rose 9.8 percent to $9.10 in premarket trading.
(Reporting by Allison Martell, Euan Rocha and Alastair Sharp, Editing by Franklin Paul and Sofina Mirza-Reid)