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Friday, September 27, 2013

BlackBerry quarterly results confirm $965 million loss

Following the release of preliminary quarterly figures last week, BlackBerry has published formal results for the three months until 31st August 2013 (the second quarter of its current financial year).

Revenue was approximately $1.6 billion (£992 million), down 45% year-on-year. The company made a loss of $965 million (£598 million) in the quarter, which compares with a $84 million loss in the previous quarter and a $229 million loss in the same quarter last year.

Thorsten Heins, President and CEO of BlackBerry, said “We are very disappointed with our operational and financial results this quarter and have announced a series of major changes to address the competitive hardware environment and our cost structure. While our company goes through the necessary changes to create the best business model for our hardware business, we continue to see confidence from our customers through the increasing penetration of BES 10, where we now have more than 25,000 commercial and test servers installed to date, up from 19,000 in July 2013. We understand how some of the activities we are going through create uncertainty, but we remain a financially strong company with
$2.6 billion in cash and no debt. We are focused on our targeted markets, and are committed to completing our transition quickly in order to establish a more focused and efficient company.”

Last week BlackBerry also announced plans to cut staff numbers by around 4,500 employees and, on Monday, agreed a potential acquisition deal with Canadian shareholder Fairfax Financial.

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Author: The Fonecast
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Categories: Handsets and manufacturers, NewsNumber of views: 959

Tags: blackberry

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