Research in Motion (RIM) has posted a quarterly loss of £144m causing its shares to rise.
The BlackBerry maker saw a loss of $235m (£144m) during its second fiscal quarter. It might sound like more bad news for the Canadian firm but the loss isn't as bad as expected and had sent its shares up by 18 percent. See also: RIM says sorry for BlackBerry service outage.
"The loss translated to 27 cents (£0.16) a share excluding special items, which was not as bad as Wall Street estimates of a loss of 46 cents (£0.28) per share." said Sky News.
Thorsten Heins, President and CEO said: "Despite the significant changes we are implementing across the organization, our second quarter results demonstrate that RIM is progressing on its financial and operational commitments during this major transition,"
RIM said it shipped 7.4 million BlackBerry smartphones and around 130,00 BlackBerry PlayBook tablets during the quarter. It also said that its BlackBerry subscriber base increased to 80 million.
Sales of BlackBerry handset have declined under strong competition from, predominantly, the iPhone and Android devices. RIM has is future firmly pinned on its upcoming next generation handsets with its BlackBerry 10 operating system which is "on track to launch in the first calendar quarter of 2013."
"Make no mistake about it, we understand that we have much more work to do, but we are making the organizational changes to drive improvements across the company, our employees are committed and motivated," added Heins.