Research In Motion has posted a smaller-than-expected quarterly loss, sending its shares up nearly 18% in after-hours trading.
The maker of the Blackberry also boosted its cash pile, as it nears the launch of its next-generation devices.
RIM reported a net loss of $235m (£145m) for the second quarter, ending 1 September, compared with a profit of $329m for the period last year.
Excluding one-time restructuring items, the loss was $142m.
RIM increased its cash to about $2.3bn from $2.2bn.
Being able to dip into a cash reserve could be key to a successful launch of RIM’s line of revamped smartphones that will run on its new Blackberry 10, or BB10, operating system.
The struggling company has staked its future on BB10.
Once a smartphone pioneer, RIM’s fortunes have faded as rivals such as Apple and Samsung have taken market share.
Thorsten Heins, chief executive of the Ontario-based firm, 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.”
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