Advertisement
Canada markets open in 3 hours 17 minutes
  • S&P/TSX

    21,837.18
    -12.02 (-0.06%)
     
  • S&P 500

    5,149.42
    +32.33 (+0.63%)
     
  • DOW

    38,790.43
    +75.63 (+0.20%)
     
  • CAD/USD

    0.7368
    -0.0021 (-0.29%)
     
  • CRUDE OIL

    82.60
    -0.12 (-0.15%)
     
  • Bitcoin CAD

    86,525.59
    -5,605.55 (-6.08%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,157.30
    -7.00 (-0.32%)
     
  • RUSSELL 2000

    2,024.74
    -14.58 (-0.72%)
     
  • 10-Yr Bond

    4.3400
    0.0000 (0.00%)
     
  • NASDAQ futures

    18,178.25
    -53.25 (-0.29%)
     
  • VOLATILITY

    14.67
    +0.34 (+2.37%)
     
  • FTSE

    7,721.73
    -0.82 (-0.01%)
     
  • NIKKEI 225

    40,003.60
    +263.20 (+0.66%)
     
  • CAD/EUR

    0.6792
    0.0000 (0.00%)
     

BlackBerry narrows loss in Q1, beats estimates

BlackBerry started its 2015 fiscal year with a smaller-than-expected loss as handset sales continued their steep decline.

The company this morning reported an adjusted loss of US$60 million, or $0.11 per share on revenues of $966 million. The loss was smaller than pre-release analyst consensus of $0.26 per share. Compared to the year-ago quarter, when the company lost $84 million, or $0.16 per share, revenues were off 68 per cent as handset sales continued to slide.

BlackBerry sold 1.6 million handsets in its most recent quarter, down from 76 per cent from 6.8 million in Q1 2014 and 7.8 million in Q1 2013 as it continues its transition into an enterprise-focused company.

The company’s cash position improved during the quarter, to $3.1 billion from $2.7 billion the previous quarter.

More to come ...

Carmi Levy is a London, Ont.-based independent technology analyst and journalist. The opinions expressed are his own. carmilevy@yahoo.ca