Canadian smartphone company Blackberry is reporting higher revenue and smaller loss than analysts were expecting.
The tech company’s revenue was US $557 million, or $64 million above the general estimate and an improvement on a year ago, when its revenue was US$548 million.
Blackberry also says that after adjustments, it’s loss was US$15 million or three cents per share, significantly less than US$89 million or 17 cents per share that was estimated under standard accounting rules.
According to Thomson Reuters, analyst projected that BlackBerry would report a loss of 14 cents per share, and US$489 million of revenue for the quarter.
Blackberry’s chief executive John Chen says, “We delivered accelerating growth in enterprise software and higher revenue across all of our areas of focus… BlackBerry has a solid financial foundation, and we are executing well. To sustain our current direction, we are stepping up investments to drive continued software growth and the additional PRIV launches. I anticipate this will result in sequential revenue growth in our software, hardware and messaging businesses in Q4.”
He says they will be increasing spending on the launch of its newest smartphone, the first with an Android operating system.