UPDATE: BlackBerry Posts Narrower-Than-Expected Loss, Shares Jump

Shares of BlackBerry (NASDAQ: BBRY) jumped more than 11% in pre-market trading after the company released fiscal first-quarter results. BlackBerry posted its quarterly GAAP net income of $23 million, or $0.04 per share, versus a year-ago loss of $84 million, or $0.16 per share. Excluding certain items, the company lost $0.11 per share. Its revenue fell 1% to $966 million from $976 million. However, analysts were expecting for a loss of $0.28 per share on revenue of $1.047 billion. BlackBerry's revenue in North America dropped to $276 million, while revenue in Asia Pacific came in at $151 million.At the end of May, BlackBerry had a total cash of $3.1 billion, compared to $2.7 billion at the end of the earlier quarter.BlackBerry successfully launched the new Z3 device in Indonesia.Its adjusted gross margin widened to 48% from 43%.The company's press release offered the following comment from John Chen, Executive Chairman and Chief Executive Officer of BlackBerry:"Our performance in fiscal Q1 demonstrates that we are firmly on track to achieve important milestones, including our financial objectives and delivering a strong product portfolio." BlackBerry shares jumped 11.34% to $9.23 in pre-market trading.