Dive Brief:
- On Friday, BlackBerry reported a smaller quarterly loss than expected and its first quarter-to-quarter rise in revenue in more than two years, Reuters reported.
- The news boosted the company's stock as much as 12.6%.
- The company has been working on a turnaround since smartphones replaced many of its handsets.
Dive Insight:
BlackBerry has been focusing on software and more aggressively licensing patents.
"We have about 44,000 patents that are very active, very relevant, and so we're going to take advantage of that and generate more momentum there," Chief Executive Officer John Chen said.
The company booked $53 million in intellectual property licensing revenue in the quarter, and software revenue more than doubled to $162 million from 2014.
The company also saw decent sales of Priv, its first device powered by the Google Android operating system.
