Blackberry BB beats quarterly loss, shares climb 3%

Blackberry BB beats quarterly loss, shares climb 3%

In the extended session Tuesday, BlackBerry Ltd. shares went up after the company's quarterly results came in better than expected.

After a 4.2% increase in the regular session, BlackBerry BB shares rose 3% to close at $9.25.

In the year-ago period, the company reported third-quarter net income of $74 million, or a loss of 5 cents a share on a diluted basis, compared with a loss of $130 million or 23 cents a share. Breakeven earnings, which exclude stock-based compensation expenses and other items, were not included in the adjusted earnings. Revenue fell to $184 million from $218 million in the year-ago quarter. Analysts surveyed by FactSet had predicted a loss of 7 cents a share on revenue of $173.6 million. John Chen, BlackBerry chief executive and chairman, said in a statement that the QNX business achieved a quarterly record for design-related revenues, performing stronger than expected despite ongoing industry supply chain headwinds. We saw more head-to- head wins against other next-gen players on the cybersecurity front as we saw more traction for our recent unified endpoint security product launches.