BlackBerry posts $965M U.S. Q2 loss

Posted Sep 27, 2013 08:15:36 AM.

This article is more than 5 years old.

WATERLOO, Ont. – BlackBerry says it lost US$965 million in the second quarter as revenue plunged 49 per cent from a year earlier amid dismal sales of its new smartphones.

Revenue for the three-month period was US$1.6 billion.

The results were in line with a warning issued last week by BlackBerry (TSX:BB), when it announced 4,500 jobs will be cut from its global workforce.

The company (TSX:BB) said Friday it recognized hardware revenue on about 3.7 million BlackBerry smartphones in the quarter, with “most” of the units being its older BlackBerry 7 devices.

On a per share basis, the adjusted loss was equal to 47 cents per share compared to analyst expectations of 48 cents per share, according to a survey by Thomson Reuters

“We are very disappointed with our operational and financial results this quarter,” said chief executive Thorsten Heins in a release.

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