BlackBerry reports quarterly loss

BlackBerry on Friday reported a quarterly loss and forecast an operating loss in the current quarter as results came in way below analysts’ expectations, sending its shares tumbling 17 percent before the market opened.

The smartphone maker reported a net loss of $84 million, or 16 cents a share, in the fiscal first quarter ended June 1. That compared with a year-earlier loss of $518 million, or 99 cents a share.

Excluding one-time items, Waterloo, Ontario-based BlackBerry reported a loss from continuing operations of $67 million, or 13 cents a share, on revenue of $3.1 billion. Analysts, on average, expected earnings of 6 cents a share, on revenue of $3.36 billion, according to Thomson Reuters I/B/E/S Estimates.

Shipments rose in the quarter, but the company gave no breakdown on how many of its smartphone sales came from the new BB10 devices. It is betting the new phones will help it win back some of the market share lost to aggressive competitors.

BlackBerry shares fell 17.2 percent to $11.98 in early U.S. trading.

More on BlackBerry

BlackBerry announces mid-tier Q5

BlackBerry shareholder case dismissed

BlackBerry subscriber numbers decline

BlackBerry profits off Z10 sales

Low expectations for BlackBerry results

Must Read

Partner Content

Show comments

Trending Now

Follow Us

BlackBerry reports quarterly loss