“As it struggles with a turnaround, BlackBerry sharply missed quarterly earnings estimates Friday and announced plans to make a smartphone based on the Google Android operating system,” Brian Deagon reports for Investor’s Business Daily.
“BlackBerry reported revenue of $491 million, well below the consensus of $610.6 million, as polled by Thomson Reuters; it was down 47% from the year-earlier quarter,” Deagon reports. “This was the ninth quarter in a row of double-digit declines. BlackBerry reported a per-share loss minus items of 13 cents, missing the consensus of a 9-cent loss and widening from a 2-cent loss, for its fiscal Q2, which ended Aug. 29.”
“BlackBerry stock was down 5%, near 6.50, in afternoon trading on the stock market today, near two-year lows,” Deagon reports. “When it was king of the smartphone market in 2008, prior to the ascension of the Apple iPhone, BlackBerry stock peaked at 148.13. Apple’s first iPhone came out in 2007.”
“BlackBerry’s turnaround effort focuses on expanding its software base and making more money from its portfolio of patents while it continues to make smartphones mostly targeting business professionals,” Deagon reports. “Its new Android device, called Priv, is expected to launch later this year. The phone will have a touch screen and slide-out keyboard… The BlackBerry Android device was widely expected and marks a shift away from the company’s BlackBerry 10 platform, which has failed to gain traction against Apple and Google.”
Read more in the full article here.
MacDailyNews Take: Watching iPhone roadkill disgustingly flop around in its death throes is strangely compelling initially, but it gets old fast. Die already, you hideously maimed mess! Hey, somebody put this thing out of its misery, will ya?
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Losing the Signal: The inside story of how Apple’s revolutionary iPhone crippled BlackBerry – May 22, 2015
Beleaguered Blackberry gets caught tweeting from an Apple iPhone – January 13, 2015
Beleaguered BlackBerry: We’re not about phones anymore – September 12, 2014
Ousted half-CEO Lazaridis to step down from beleaguered BlackBerry board on May 1 – March 28, 2013
Former RIM half-CEO Jim Balsillie dumps all BlackBerry shares – February 14, 2013
Beleaguered RIM’s half-CEO lying; BlackBerry 10 OS is a failure that won’t be able to compete, source says – December 22, 2011
RIM’s half-CEO Lazaridis walks out of BBC interview – April 13, 2011
[Thanks to MacDailyNews Reader “Bill” for the heads up.]