BlackBerry Ltd. (NYSE: BB) reported second-quarter fiscal 2021 results before markets opened Thursday. The enterprise software firm posted quarterly adjusted diluted earnings per share (EPS) of $0.11 on adjusted revenue of $266 million. In the same period a year ago, BlackBerry reported break-even earnings on revenue of $244 million. Second-quarter results compare to consensus estimates for EPS of $0.02 and $238 million in revenue.

On a GAAP basis, BlackBerry reported quarterly revenue of $259 million and a net loss per share of $0.04. Gross margin was 77%, and adjusted gross margin was 78%. Recurring software product revenue continues to be approximately 90% of revenues.

The company’s enterprise security software suite, BlackBerry Spark, got a boost from the work-from-home movement related to the COVID-19 pandemic.

Also during this quarter, BlackBerry QNX and Desay Automotive together developed the autonomous driving domain controller for Xpeng Motor’s new P7 high-performance electric vehicle. Its QNX technology will be used by StradVision in autonomous vehicle systems in South Korean automakers.

CEO John Chen noted that the company’s QNX platform for self-driving cars, combined with new customers for Spark, “position the business strongly for the future.” The recovery in automobile manufacturing “point to sequential revenue growth and return to a normal run rate” by early in 2021.

On the books, BlackBerry cash, cash equivalents, short-term and long-term investments totaled $977 million. Net cash generated from operating activities in the quarter was $31 million.

The company said it would provide a fiscal year 2021 outlook on its conference call. Analysts have estimated that third-quarter revenue will come in at $234 million and that BlackBerry will post a break-even quarter. For the full year, the consensus estimate calls for EPS of $0.07 and revenue of $955 million.

Excluding Thursday’s move, BlackBerry stock had underperformed the broad markets with a retreat of about 25% year to date. In the past 52 weeks, the share price was down closer to 17%.

BlackBerry stock traded up by as much as 8.5% in Thursday’s premarket session but pulled back to a gain of around 4.3%, or $5.00 a share. The stock’s 52-week range is $2.70 to $6.89 and the consensus price target is $5.72.

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