Research in Motion has seen a fair turnaround after the struggling BlackBerry maker's better-than-expected quarterly results, analysts said.
RIM not only reported a smaller-than-expected loss for the second quarter, it beat market estimates for revenue and shipments while arresting its cash burn ahead of the crucial launch of BlackBerry 10. Subscriber numbers also rose in the quarter, surprising analysts.
The analyst said that he expected RIM's management, which has succeeded in maintaining the company's subscriber base, to continue with steps to sustain that base ahead of the launch of the next-generation BlackBerry early next year.
RIM's Nasdaq-listed shares shot up more than 20 percent to $8.60 in extended trading on Thursday, and were trading around that level before the bell.
