OTTAWA, CANADA: Canadian smartphone manufacturer BlackBerry last week posted an unexpected first quarter loss after disappointing sales of its new phones. The company's share price fell by 20%.
The Waterloo, Ontario firm announced it lost US$84m in the first quarter ending in June, compared with a loss of US$518m in the same period a year earlier.
Revenues reached US$3.1bn, up nine percent.
But analysts expected a seven cent per share profit instead of a 13 cents per share loss.
The results come after the company rolled out its new smartphones based on the new BlackBerry 10 platform, seen as its best hope at regaining traction after suffering staggering losses in market share in recent years.
The group said it shipped 6.8m smartphones in the quarter, 13% more than in the previous quarter. The shipments included 2.7m new touchscreen Z10s and Q10s, which have a small keyboard. The Q10 model was released earlier this year.
"I can't imagine anyone is happy with Blackberry's performance except maybe Blackberry competitors," said industry analyst Jeff Kagan.
"Can Blackberry turn things around with their new Q10, the keyboard device that just launched? Hopefully yes, but to tell you the truth hopes are dimmed by this first quarter performance," he said.
I-Net Bridge For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field. Go to: http://www.inet.co.za
LEGAL DISCLAIMER: This Message Board accepts no liability of legal consequences that arise from the Message Boards (e.g. defamation, slander, or other such crimes). All posted messages are the sole property of their respective authors. The maintainer does retain the right to remove any message posts for whatever reasons. People that post messages to this forum are not to libel/slander nor in any other way depict a company, entity, individual(s), or service in a false light; should they do so, the legal consequences are theirs alone. Bizcommunity.com will disclose authors' IP addresses to authorities if compelled to do so by a court of law.