Today BlackBerry reported a $4.4 billion third-quarter loss, falling short of analyst expectations.
The company’s stock rose 12% on the news.
BlackBerry says that 75% of devices sold during the quarter were legacy devices running BlackBerry OS 7.
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The company burned through $400 million cash for its operations but still managed to increase its cash holdings to $3.2 billion, largely thanks to the $1 billion it raised from Fairfax Financial in November.
Revenue for the quarter was $1.2 billion, down 56% from the same quarter last year.
On a positive note, BBM has gained a whopping 40 million new users since the app launched on iPhone and Android.