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After posting a surprise profit for the final fiscal quarter of last year, BlackBerry is jolting investors again -- but this time not in a good way, with an adjusted loss of $67 million for the quarter ending June 1.
BlackBerry reported its fiscal first quarter results for 2014 on Friday, and after a pleasant surprise profit in the previous quarter, things are again looking less cheery for the March, April and May period.
While overall revenue was up 15 percent from the previous quarter to $3.1 billion and the all-important North American market grew by 30 percent, BlackBerry posted an adjusted loss of $67 million or 13 cents per share -- a far cry from the six cents per share profit most analysts were expecting.
"During the first quarter, we continued to focus our efforts on the global roll out of the BlackBerry 10 platform," said Thorsten Heins, President and CEO of BlackBerry. "We are still in the early stages of this launch, but already, the BlackBerry 10 platform and BlackBerry Enterprise Service 10 are proving themselves to customers to be very secure, flexible and dynamic mobile computing solutions."
Noting that "the smartphone market remains highly competitive, making it difficult to estimate units, revenue and levels of profitability," the quarterly report reveals that BlackBerry shipped 6.8 million smartphones, an increase of 13 percent from the previous quarter -- but curiously, the company doesn't break out how many of those units were actually the latest BlackBerry 10-powered handsets.
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(Image courtesy of Fox Business)