Smartphone pioneer Blackberry has announced smaller-than-expected losses for the first quarter despite a fall in turnover.
The Canadian company has turned around a 2013 Q1 loss to a modest near 17 million euro profit. This was achieved through cost-cutting and a range of other measures, but if exceptional items are stripped out it actually lost 43 million euros in Q1.
Cash held by the company rose thanks to real estate sales and a tax refund, a further 293 million euros to make the cash pile now worth just over two and a quarter billion euros.
But turnover collapsed, down from two and a quarter billion to just 706 million euros compared to the same quarter last year.