(Toronto Stock Exchange: RIM-CA) reported quarterly results that beat analysts' expectations, but the struggling company still reported a net loss on Thursday.
After the earnings announcement, the company's shares ticked higher in extended-hours trading. (Toronto Stock Exchange: RIM-CA)
The company posted a third-quarter loss excluding items of 22 cents per share, sharply lower than the $1.27 a share in earnings it reported a year ago.
Revenue plunged 48 percent to $2.7 billion from $5.22 billion in the year-earlier period.
However, the results beat expectations: Analysts had expected the company to report a quarterly loss excluding items of 35 cents a share on $2.66 billion in revenue, according to a consensus estimate from Thomson Reuters.
RIM has struggled to maintain its market share amid increased competition from smartphones that run on Google's Android software and Apple's iPhone. The decline in RIM's existing business and cash in recent years makes the release of the new BlackBerry 10 platform that is planned for early next year critical to the company's survival.
- AP contributed to this report
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