BUZZ-BlackBerry Ltd: Shares rise on smaller-than-expected loss

Thu Jun 19, 2014 8:18am EDT
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** Canadian smartphone maker's U.S.-listed shares shares up 9.4 percent at $9.08 premarket

** Company reports smaller-than-expected Q1 loss as cost cutting and other initiatives start to pay off

** Excluding a one-time non-cash accounting gain and some restructuring charges, loss was $60 million, or 11 cents/share

** Analysts on average had expected loss of 25 cents/share, according to Thomson Reuters I/B/E/S

** BlackBerry said its gross profit margin rose to 46.7 percent from 33.9 percent a year earlier