Weak BlackBerry 10 Units Crush BlackBerry Shares

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of BlackBerry (NASDAQ: BBRY  ) got crushed today by as much as 29% after the company reported fiscal first quarter earnings.

So what: Revenue in the first quarter totaled $3.1 billion, which translated into an adjusted loss of $0.13 per share. Total smartphone shipments came in at 6.8 million, of which 2.7 million were BlackBerry 10 devices like the Z10 or Q10. PlayBook tablet shipments totaled 100,000, the lowest quarterly units since introduction.

Now what: The company said that its bottom line was negatively affected by Venezuelan foreign currency restrictions, and BlackBerry would have been close to breakeven results without them. BlackBerry subscribers declined by 4 million sequentially to 72 million. CEO Thorsten Heins said the company is still in the early stages of the new platform. BlackBerry declined to provide specific financial guidance, citing its ongoing transition in the highly competitive smartphone market, but does expect an operating loss.

Interested in more info on BlackBerry? Add it to your watchlist by clicking here.

Want to get in on the smartphone phenomenon? Truth be told, one company sits at the crossroads of smartphone technology as we know it. It's not your typical household name, either. In fact, you've probably never even heard of it! But it stands to reap massive profits NO MATTER WHO ultimately wins the smartphone war. To find out what it is, click here to access the "One Stock You Must Buy Before the iPhone-Android War Escalates Any Further..."


Read/Post Comments (1) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On June 29, 2013, at 12:18 AM, Clint35 wrote:

    Venezuelan foreign currency restrictions? Wow, now I've heard everything.

Add your comment.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2515916, ~/Articles/ArticleHandler.aspx, 10/30/2014 7:53:14 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement