“BlackBerry (BBRY), the Canadian smartphone maker, fell as much as 20 percent in early trading after posting a surprise quarterly loss and lower-than-projected sales, hurt by sluggish demand and currency restrictions in Venezuela,” Hugo Miller reports for Bloomberg.
“The loss in the three months through June 1 was 13 cents a share, excluding some items, the Waterloo, Ontario-based company said in a statement,” Miller reports. “Analysts had estimated a profit of 8 cents on average, according to data compiled by Bloomberg. Sales were $3.07 billion in the period, compared with the $3.37 billion predicted by analysts.”
Miller reports, “BlackBerry’s new Q10 and Z10 models, the linchpin of its comeback effort, are struggling to reignite demand for the platform… ‘BlackBerry 7 units and subscribers are tailing off more quickly than we had originally modeled,’ said Ehud Gelblum, an analyst at Morgan Stanley in New York. BlackBerry shares plunged as low as $11.60 in early trading after falling 2.9 percent to $14.48 in New York yesterday.”
“Phone shipments missed analysts’ predictions as well,” Miller reports. “The company shipped 6.8 million smartphones last quarter, including both the new BlackBerry 10 models and older devices. Analysts had estimated 7.5 million… BlackBerry faces an uphill battle to claw back market share lost to rivals such as Apple Inc (AAPL)… BlackBerry’s share of the global smartphone market shrank to 2.9 percent last quarter from 6.4 percent a year earlier, according to research firm IDC.”
Read more in the full article here.
MacDailyNews Take: Color us unsurprised.
RIM. Dead Company Walking. – MacDailyNews, August 5, 2010
Related articles:
BlackBerry CEO: In five years, I don’t think there’ll be a reason to have a tablet anymore – April 30, 2013
Beleaguered BlackBerry shares drop 7% as Z10′s U.S. launch gets subdued reception – March 22, 2013
Gartner: Beleaguered BlackBerry in an ‘extremely difficult’ spot – March 19, 2013
Why the Z10 won’t save beleaguered Blackberry – March 11, 2013
Bye-bye Blackberry.
that must be bad news for Apple…
WS has Apple in the same death spiral.
Yes , coz blackberry can’t do well , neither can Apple .
No, because you don’t want everybody to fail or Apple will get crowned a monopoly like Micrrosoft did in the 90s.
I wish these guys had the integrity to throw in the towel. The are only alive because very large organizations, like the U.S. Government, keep buying their products regardless of what they release to the market. Also there are a lot of MSCE’s that paid exorbitant amounts of money to get their Exchange servers to plug into BB directly so they cannot back out of BB without losing face, big time. BB is basically mucking up the wireless world. I could go on and on about this. BB is bad for wireless.
Well, I personally think that competition in the market is a good thing. I would like to see Blackberry succeed. The company offers something different. Perhaps like most fanboys, you just simply refuse to see that other consumers may have different needs than you do.
The Blackberry cant succeed because it has NO Apps, and no real distinguishing features. So why should it succeed when it offers nothing new or different or ground-breaking?
Ad hominem attacks (fanboys) make anything you say lack credibility.
If you did have anything to say, you would have said it, but there isn’t much to say about the Blackberry, is there?
In fact, your post comes off like a ‘fanboy’ post because it lacks information and logic and contains personal attacks.
The market is full of bullshits .
Blackberry posting loss = 50 % up from the 52 weeks low .
Apple result – the most profitable company ever In the mankind history = hitting 52 weeks low .
Fuck u ! Mr .market !!!
Mr.market said : ” blackberry can’t do well , neither can Apple ”
AAPL dived .
I used to love my BB. I may buy a Q just as rite of mourning.
..and by buy a BB Q, i mean BB-Q, not the Q10
Ouch. An analyst compared BBRY to Palm in his downgrade.
Why the anal ists didn’t know this loss ? Aren’t they pro in checking the inventory channel ?
10 millions devices SHIPPED, not sold. Who knows how many are sitting on shelves waiting for their possible turn on the shelf. Also, didn’t Blackbetry purchase 1 million for their own employees?
Blackberry is in a mess. They don’t know which direction to go and they broke every promises to update the playbook with OS10.
20%? Try 27.97% as of end of after-hours trading.
Dead company walking, indeed.
Personally I think BB’s demise is sad. They went from being the best feature phone with the most robust eco-system out there to the money sinkhole since the iPhone came out.
Ignoring the iPhone and the rise of the smartphone has cost them dearly. I had a work BB in 2005 and hated it. If they had come out with the Q10 and the other one with k/b 3 years ago it would have had a chance. Not now.
Their new business management system for BB, iPhone and android looks great but it probably won’t save them either. I reckon this shows that they are still able to make good products though it seems to be too little too late.
There is really only room for 3 ecosystems, it’s a pity the android has succeeded at the cost of BB and Winphone 8 as they are honest products not apple rip-offs.
For years they have been sitting on their corporate butts
6.8 million is still impressive. How ever they say shipped so in guess that’s sell in not sell out. It’s a bad metric and that means inventory may be building up in the channel which may slow future sales and force discounting.