The former telecom hardware maker, which keeps its books in U.S. dollars, said the loss amounted to 23 cents per share in the quarter ended June 30 compared with a loss of $1.6 billion or $3.22 per share a year ago.
Revenue totalled $1 million for the quarter compared with $145 million in the second quarter of 2010.
Nortel filed for protection under the Companies' Creditors Arrangement Act in 2009 and has been selling its operations bit by bit since then.
The last of Nortel's assets – more than 6,000 patents that include technology that's expected to be the backbone of wireless networks for the next decade – was sold on July 1 for $4.5 billion to a consortium that included Research In Motion (TSX:RIM).
The windfall will be added to the roughly $3.2 billion that the company has already received from the sale of its other businesses.
At its peak during the 1999-2000 technology boom, Nortel was Canada's most valuable company after going through several years of rapid expansion and diversification funded by debt and stock sales.