BlackBerry loss smaller than expected

BlackBerry reported a smaller quarterly loss today and flashed encouraging signals about its hard-pressed smartphone business as well as its software and services sales, spurring a 7 per cent jump in its shares.

BlackBerry reported a net loss of $207 million, or 39 cents per share, for its second quarter ended August 30th. That compared with a year-earlier loss of $965 million, or $1.84 per share. Revenue was $916 million, versus $1.57 billion a year earlier.

Excluding one-time items such as charges for restructuring and a change in the fair value of debentures, the loss was 2 cents a share. On that basis, analysts polled had been expecting a 16-cent loss.

“Broadly speaking, they’re doing the right things . . . but that revenue number is getting real small,” said BGC Partners analyst Colin Gillis. – (Reuters)