Millennium Post

BlackBerry quarterly loss up from $965 mn to $4.4 bn

Struggling Canadian smartphone maker BlackBerry on Friday posted a whopping $4.4 billion loss in the third quarter ended 30 November, hit hard by poor response to its mobile devices. The company, which last month scrapped a plan to sell itself, had posted a profit in the same period a year ago.

‘GAAP loss from continuing operations for the quarter was $4.4 billion...This compares with a GAAP loss from continuing operations of $965 million in the prior quarter, and GAAP income from continuing operations of $14 million in the same quarter last year,’ BlackBerry said in a statement.

The loss during the reported quarter included a non-cash, pre-tax charge against long-lived assets of approximately $2.7 billion, another pre-tax charge against inventory and supply commitments of approximately $1.6 billion, and pre-tax restructuring, legal and financial advisory charges of approximately $266 million, it said. The revenue of the company for the third quarter of fiscal 2014 was approximately $1.2 billion, down by 56 per cent, from $2.7 billion in the same quarter of fiscal 2013. During the third quarter, the company recognised hardware revenue on approximately 1.9 million BlackBerry smartphones compared to approximately 3.7 million BlackBerry smartphones in the previous quarter. ‘Most of the units recognised were BlackBerry 7 devices.

‘During the quarter, 4.3 million BlackBerry smartphones were sold through to end customers. Of these, 3.2 million were BlackBerry 7 devices,’ the smartphone maker said.
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