“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?
SEE ALSO:
Beleaguered BlackBerry to launch multiple Android phones this year, say sources – July 9, 2015
Beleaguered BlackBerry reports $28 million loss – June 24, 2015
Beleaguered BlackBerry considers Android phone – June 15, 2015
Beleaguered BlackBerry cut to strong sell on declining sales, layoff plans – June 3, 2015
Apple iPhone vs. BlackBerry vs. Google’s Android: There are many lessons for investors – May 28, 2015
Beleaguered BlackBerry axes smartphone employees – May 26, 2015
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.]
Watching them die is getting painful
Businesses are living breathing things. They bring happiness and value to the customers, employees, vendors and shareholders. Watching one die (no matter the reason) is always difficult.
“There, but for the Grace of God, go I”.
Casting dispersions against a failing business is the worst kind of arrogance. Sooner, or later, your business is going to wind up on the scrap heap. More fail in a single minute than have survived more than 25 years.
MDN, I know its hard for you, but now would be the time to show some class.
Disperse particles? Maybe dispense aspersion is a better phrase.
Blackberry CEO hubris..flat out calling the iPhone a joke..makes it difficult to feel sorry for them. Funny..Dell and RIM were the most vocal with negative comments towards Apple as they were making a comeback..now look at them.
Yep, they surely got egg on their faces for those remarks. I don’t like to see a company fail like it has been previously stated.
At least for Dell they have taken the company private and no longer held hostage to the short term goals of investors and not effected by the comments of clueless analysts . They’ve correct a few evils and hopefully they’re doing well.
Blackberry, OMG! What a disaster. Once upon a time they were sitting atop the cell phone industry with the best tech and security. Then came the iPhone and change in consumer operational preference. Combined with “iPhone is a joke” attitude and an unwillingness and inability to see into the future, we’ve all been witnessing the death of Blackberry. It’s been a very slow death, like a tomato wilting away on the vine! I don’t think I’d abandon the Blackberry OS but surely would make a droid phone.
Thank you for saying that. There needs to be competition out there and better it be from locals.
Soon there will be another Android handset on the market. Earth-shaking, I know.
I can barely contain my excitement. And a hard slide out keyboard – so 90’s cute.
There choice of making an android handset is just about the dumbest choice from them I have seen. In a market where every single android vendor but 1 is bleeding red ink and can’t make a profit, gee what a brilliant move, just one more android phone on life support.
in investment and tech blogs I was arguing with BB fans and investors from 2007 on saying iPhone was a threat.
I was laughed at called fanboy, idiot, ‘what are you smoking’ etc.
This went on as BB bought QNX, BB fans said it was ‘industrial standard’ vs ‘toy iOS’ etc. Every new idea was the ‘iPhone’ killer.
Don’t want to kick a dead horse on BB but the car makers and watch makers who are laughing at Apple should pay attention.
Only government contracts are keeping Blackberries alive. Pull that and you can put a fork in BB.
I’m glad BB is also not spouting stupidity on Apple anymore. That big ass whooping they got from Apple finally shut them up. 😛
Ghandi: “First they ignore you, then they ridicule you, then they fight you, and then you win.”
…plans to make Android phone
LEAP into their own grave!
Very sad.
😭⛪
It really makes me squirm seeing Blackberry in such a state, I really feel for the employees. Watching BBRY is like watching a train wreck in ultra-slow motion. One bad management decision after another after another. Now the once King of Security is adopting the Jester of Security’s OS, as if we need yet another brand of Android. I don’t think I can stand to watch anymore. If BBRY was a pet, I’d have it put to sleep.
By the way, “Losing the Signal: The Untold Story Behind the Extraordinary Rise and Spectacular Fall of BlackBerry” is a very interesting read.
BBRY has $3.35 B cash and investments with a market cap of $3.4B. So why not just auction your patents, sell QNX, pay a one time dividend to shareholders of the available cash and shut down. Android isn’t going to save them. Besides Android may be dead after the 2016 trial vs Google. Google could owe Oracle between $7 and $15B for API copyright violations.
The moment I read “…and slide-out keyboard…” I knew that their new phone will flop.
Crackberry cracking up 😆 in fairness Blackberry was more original then Android who did a pure inferior copy of apple ios. But Blackberry was stubborn to innovate and now they are in the dustbin