Blackberry announces $965m loss
on 27/09/2013 13:11:18
The troubled smartphone company reported a loss of US $965m (€715m) and revenue of $1.6bn (€1.2bn), in line with what it warned when it surprised the market by pre-releasing dismal earnings projections last week and announcing 4,500 layoffs.
The company posted revenue of $2.9bn (€2.15bn) in the second quarter last year.
The adjusted loss was $248m (€184m) or 47c per share this quarter. That's far below the loss of 16c per share projected by Wall Street last week.
Fairfax, BlackBerry's largest shareholder, subsequently announced it plans to make an offer for Blackberry and is trying to attract other investors. BlackBerry cancelled its conference call with analysts on Friday in light of that overture.