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| Blackberry revival hopes boosted by revenue rise | Blackberry revival hopes boosted by revenue rise |
| (35 minutes later) | |
| Blackberry has reported revenues of $548m for the three months to November - 12% higher than the previous quarter. | Blackberry has reported revenues of $548m for the three months to November - 12% higher than the previous quarter. |
| It was the struggling smartphone maker's first quarter-on-quarter increase for more than two years. | It was the struggling smartphone maker's first quarter-on-quarter increase for more than two years. |
| The better-than-expected results give the Canadian company some hope that its turnaround plan is working. | The better-than-expected results give the Canadian company some hope that its turnaround plan is working. |
| Revenue was 31% lower than for the same period last year, but losses narrowed to $89m compared with a $148m deficit a year ago. | Revenue was 31% lower than for the same period last year, but losses narrowed to $89m compared with a $148m deficit a year ago. |
| Chief executive John Chen said he was pleased with progress, as growth in enterprise software gained momentum and revenue rose across its "areas of focus". | Chief executive John Chen said he was pleased with progress, as growth in enterprise software gained momentum and revenue rose across its "areas of focus". |
| "Blackberry has a solid financial foundation, and we are executing well," he said. | "Blackberry has a solid financial foundation, and we are executing well," he said. |
| Revenue from software - a figure being closely watched by analysts - more than doubled to $162m compared with the same quarter last year. | |
| "Blackberry hit a software number that investors have been looking for them to hit for quite some time," said Morningstar analyst Brian Colello. | |
| Total software revenue for the first three quarters reached about $362m - within striking range of the $500m forecast for the full financial year to February. | |
| Last month, the company launched a new smartphone called the Priv, the first to run on the Android platform rather than its own operating system. | |
| The majority of the world's smartphones run on the Google-developed Android. | The majority of the world's smartphones run on the Google-developed Android. |
| Blackberry said the Priv combined Blackberry-level security with access to the 1.6 million apps in the Google Play app store. | |
| Mr Chen said the device had been well received and would be available on more mobile networks globally next year. | Mr Chen said the device had been well received and would be available on more mobile networks globally next year. |
| Blackberry aims to sell five million of the handsets a year. The Priv costs about $700/£580 without a contract, putting it in line with the iPhone and premium Android devices. | |
| The company sold 700,000 devices in the third quarter, down 100,000 from the previous quarter, but average selling prices rose from $240 to $315. | |
| Shares in Blackberry jumped 10% in morning trading in New York to $8.59, but the stock is still down by 25% this year. | |
| The company is valued at just $4.5bn. In comparison Apple is worth $620bn. | The company is valued at just $4.5bn. In comparison Apple is worth $620bn. |