BlackBerry Is Surging After Reporting Better Than Expected Earnings

BlackBerry Ltd reported a smaller quarterly loss on Friday in an early sign that its drawn-out turnaround efforts might be working.

The Waterloo, Ontario-based company reported a net loss of $207 million, or 39 cents per share, for the second quarter ended Aug. 30. That compared with a year-earlier loss of $965 million, or $1.84 per share.

The stock is up 4% pre-market on the news.