By ROB GILLIES
TORONTO — BlackBerry says it is committed to completing a series of major changes quickly after posting a nearly billion-dollar loss and a 45 percent drop in revenue for the second quarter.
The troubled smartphone company reported a loss of $965 million and revenue of $1.6 billion, in line with what it warned when it surprised the market by preleasing dismal earnings projections last week and announcing 4,500 layoffs.
The company posted revenue of $2.9 billion in the second quarter last year.
The adjusted loss was $248 million or $0.47 per share this quarter. That's far below the loss of 16 cents per share projected by Wall Street last week.
Fairfax, BlackBerry's largest shareholder, subsequently announced it plans to make an offer for Blackberry and is trying to attract other investors. BlackBerry cancelled its conference call with analysts Friday in light of that overture.
related articles »
HOFFMAN ESTATES, Ill. (AP) — Sears' third-quarter loss widened as the ailing department store operator's results were hurt by weaker ...
LOS ANGELES — The Walt Disney Co.'s earnings rose 12 percent in the company's fiscal fourth quarter, beating analysts' forecasts ...
TORONTO (AP) — BlackBerry abandoned its sale process on Monday, and announced it will replace its chief executive.
Chattanooga's biggest banks posted solid earnings in the second quarter, even as overall revenue continued to lag.