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BlackBerry shares fall 28 percent after poor earnings and guidance

Written by Andre Yoskowitz (Google+) @ 28 Jun 2013 21:50 User comments (1)

BlackBerry shares fall 28 percent after poor earnings and guidance BlackBerry shares were decimated today after the company reported their fiscal Q1 2014 earnings for the quarter ended May 2013.
The important earnings report, since it included sales of the first BlackBerry 10 device, the Z10, failed to enthuse investors.

BlackBerry shipped 6.8 million smartphones in the quarter, of which only 2.7 million were BB10 devices including the aforementioned Z10 and the QWERTY-packing Q10 that was released in Canada and the UK but did not reach the U.S. in time for this earnings report.

By comparison, Apple shipped over 37 million iPhones in the last quarter, and Samsung shipped over 40 million.

The company reported a loss of $84 million on revenue of $3.1 billion, and cited Venezuelan foreign exchange regulations as the sole reason for the loss.

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1 user comment

129.6.2013 2:12

I used to stand behind blackberry in the days of the Bold and Pearl but as of the last year and a half I owned a Torch and of all the phones I have owned working in the Cellular industry for many years this was the biggest piece of garbage I had ever laid eyes on.

My point is that if someone is locked into a 2 year contract to purchase a phone before getting a reasonable discount, the phone should last 2 years, if your company cannot manufacture a product that can stand up to normal use (with no dropping) then I personally believe you shouldn't even be in business, I hope the final nail for this companies coffin comes soon, consumers deserve better than disposable electronics for their money.

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