Don't count BlackBerry out just yet. The beleaguered company had a decent second quarter, beating analysts' estimates for earnings, though its revenues came in a bit lower than expected.
Analysts had expected the company to post a loss of $0.16 a share. Instead, the loss was $0.02 cents a share, or $11 million. Revenues for the quarter came in at $916 million versus the expected $950 million.
“We delivered a solid quarter against our key operational metrics, and we are confident that we will achieve breakeven cash flow by the end of FY15,” said John Chen, BlackBerry's CEO, in a press release. “Our workforce restructuring is now complete, and we are focusing on revenue growth with judicious investments to further our leadership position in enterprise mobility and security."
The restructuring Chen referred to was a plan to cut up to 40% of the company's workforce. That translated to as many as 5,000 jobs. Chen told employees at the company in August that the layoffs were over.
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Many investors seem to be buying the talk of a turnaround; BlackBerry's stock price is up about 31% since the beginning of the year:
[img src="http://media.ycharts.com/charts/0688db88694e1959ad45bcc8af3bf7a6.png" caption="" credit="" alt="BBRY Chart"]BBRY data by YCharts
Friday morning the stock was flat in premarket trading following the announcement. The announcement comes after this week's introduction of the company's new smartphone, the BlackBerry Passport, which Mashable Tech Editor Pete Pachal dubbed "big, powerful ... and very strange."