BlackBerry’s efforts to turn the company around with its new BlackBerry 10 software and phones are in doubt after a disappointing earnings report that sent its shares into a tailspin.
The Waterloo, Ontario-based company said today it shipped 6.8 million smartphones in the last quarter, down from 7.8 million during the same period a year ago. It posted a loss of 13 cents a share for the quarter when analysts had anticipated profit of 8 cents a share. The shares fell 29 percent today in intra-day trading, the biggest loss an over a decade.
However, even more troublesome is that there was no major boost from its new BlackBerry 10 devices, including the Z10 which was released in February and its Q10 released in May. The company only shipped 2.7 million of its new BlackBerry 10 devices, much lower than analysts had predicted. The company did not divulge how many were actually sold after being shipped to carriers and stores.
BlackBerry 10 and Z10 Review BlackBerry CEO on New Phones, Samsung and Apple Watch Video iPhone and Android Battery Life Savings Tips Watch Video
Read also:
BlackBerry hits bump in turnaround road, shares plunge (Reuters)
BlackBerry 10 is not a hit; stock nosedives 28% (CNN)
BlackBerry reports first-quarter loss in a blow to comeback plans (Washington Post)
Explore: 456 additional articles.
From Our Sponsor
