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Sunday, July 7, 2013

BLACKBERRY SHARES PLUNGE AS RESULTS WORSEN

The blackberry smartphone manufacturer has posted a net loss of $84m for its first fiscal-quarter of this year, sending its share price plunging by a quarter in early trading.
          The loss was a considerable improvement on the $518m the company lost a year ago, but was still much worse than analysts had been expecting, according to cellular-news.com.
           Revenues at $3.1bn, were however up by 9% compared to a year ago. The revenue breakdown for the quarter was approximately 71 percent for hardware, 26 percent for service and 3 percent for software and other revenue
           The company shipped 6.8 million smartphones, which is noted for was an improvement on the previous three months. However, it was still down on the 7.8 million units shipped in the comparable quarter a year ago.

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