BlackBerry Limited (TSX:BB) shares were higher in pre-market deals after the firm reported narrower-than-expected losses and forecast-topping revenue in the fourth quarter to February 28.
Its net loss for the quarter narrowed to US$10mln (loss of 6 cents per share) from a loss US$47mln (loss of 10 cents per share) in the corresponding quarter of 2017.
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While revenue fell to US$233mln from US$286mln the previous year, it was above the FactSet consensus of US$216mln, helped by software and services revenue of US$218mln which surpassed expectations of US$196mln.
Elsewhere, revenue from handheld devices slumped to US$2mln from US$55mln. The fall was as expected.
BlackBerry said total company software and services billings growth is expected to be in double-digits in the fiscal year 2019 while adjusted earnings per share is expected to be positive.
BlackBerry shares were up 4.8% at US$13.00 in pre-market deals.