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BlackBerry Shares Climb as Revenue Slide Slows

This story originally appeared on Reuters

BlackBerry Ltd reported a slightly wider than expected adjusted loss on Tuesday, however shares in the company rose over 8 percent as its slide began to show signs of stalling and its turnaround begins to slowly gain traction.

Blackberry via Facebook

Excluding a one-time gain and charges related to restructuring items, the company reported a loss of $28 million or 5 cents a share.

Analysts, on average, were expecting a loss of 3 cents a share, according to Thomson Reuters I/B/E/S.

Quarterly revenue was $658 million in the period, slightly lower than the prior quarter.

Crucially for the company that is pivoting to focus on its software , revenues in that segment more than doubled from the year ago period to $137 million in the current period.

(Reporting by Euan Rocha, Alastair Sharp and Allison Martell in )

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