BlackBerry Reports Net Loss of $84 Million for Q1, 2.72 Million BlackBerry 10 Smartphones Shipped

Posted June 28, 2013 at 2:54pm by iClarified | Please help us and submit a translation by clicking here | 9078 views

BlackBerry reported a net loss of $84 million or $.16/per share, far lower than the net profit of $0.07 that analysts expected. The company's stock opened 25% lower on the TSX.

BlackBerry shipped 6.8 million smartphones in the quarter and 40% (2.72 million) of those were BlackBerry 10 devices. Notably, the U.S. launch of the Q10 smartphone didn't occur until after the end of the reported quarter; however, the company is also forecasting an operating loss for the next quarter.

BlackBerry Q1 Highlights:
● Revenue $3.1 billion, up 15% sequentially from the previous quarter
● North America revenue grows sequentially 30%, APAC revenue grows 35%, EMEA revenue grows 9%
● LATAM revenue declines 6% as Venezuela foreign currency restrictions negatively impact $72 million of service revenue recognition in the first quarter; company gross margins negatively impacted by 2%
● Shipments of 6.8 million smartphones, up 13% sequentially from the previous quarter
● GAAP loss from continuing operations of $84 million, or $0.16 per share
● Adjusted loss from continuing operations of $67 million, or $0.13 per share
● Venezuela foreign currency restrictions impact reported GAAP earnings and adjusted earnings by approximately $0.10 per share; excluding such impact, adjusted earnings in-line with previously provided outlook of approaching breakeven financial results
● Cash flow from operations of $630 million
● Cash and investments balance of $3.1 billion

You can find the release here

Add Comment
GadgetRevue - June 28, 2013 at 6:13pm
How does BBM increase profitability? What other FREE tools are they releasing? Does it really matter? The market is crowded and the 72 millions world wide customers they have left are mostly there because it's company issued and they have no choice (like me) so regular SMS is preferable due to interoperability. Bear in mind it says "shipped" not "sold" If they gave away 3.3 million more it would say 6 million shipped. See how that is irrelevant? Next quarter when the "shipped" devices don't sell, they new "shipped" numbers will be even more dire. Compare that to 37 millions iPhones and even more than that for all the new android devices. Blackberry last ditch effort to avoid joining the club that Sony, Nintendo, Garmin, etc are members has failed. Welcome!
No ma'am - June 28, 2013 at 3:44pm
Just go away BB. I hate your cheap products that are worthless. The only reason they still exist is because they have the cheapest piece of crap handset that carriers just give away as company phones. Can't wait until my company switches to iPhone. The latest batch of "upgraded" blackberries have gotten so many complaints company wide that they are considering the iPhone finally. Price is the only problem. You get what you pay for.
Joemama - June 28, 2013 at 3:15pm
I think BBM to iOS & Android could save them.
you retard - June 29, 2013 at 12:30am
Then you must be a retard. BBM is the only reason many people bought or kept buying BBerries. Now, they can have BBM on a SUPERIOR device... why would anyone ever want a BB device ever again?
Locky - June 28, 2013 at 3:09pm
R..i.P ! It's matter of time you will be buried your days are over
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