TweakTown
Tech content trusted by users in North America and around the world
5,911 Reviews & Articles | 38,063 News Posts

BlackBerry misses its sales mark, shares decline more than 27%

BlackBerry shares fall 27 percent on first-quarter earnings report

| Business, Financial & Legal News | Posted: Jun 29, 2013 12:03 am

BlackBerry reported its earnings and sales figures today. Unfortunately for the company, those numbers were lower than expectations. Because of this underwhelming performance, BlackBerry shares declined by over 27 percent today. The price per share for BlackBerry now sits at around $10.46, or the lowest they have been since November of last year.

 

TweakTown image news/3/1/31447_1_blackberry_misses_its_sales_mark_shares_decline_more_than_27.jpg

 

Many analysts expected BlackBerry to sell around 3.5 million BB10 devices this quarter. Instead, the company managed to sell just 2.7 million. To put this figure in perspective, Nokia sold nearly double the amount of devices as BlackBerry, which still isn't saying much. BlackBerry sat at an operating loss of $84 million, or 16 cents per share. This is quite a bit better than this quarter last year in which BlackBerry lost of $500 million. Revenue was also up 9 percent to $3.1 billion.

 

BlackBerry still has quite a bit to do if they want to stick around. Some have called for the company to split its hardware and software business, something that the company says it isn't planning to do. Do you think BlackBerry has a chance at sticking around?

NEWS SOURCE
Online.wsj.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Post a Comment about this news

Latest Tech News Posts

View More News Posts

TweakTown Web Poll

Question: Facebook's acquisition of Oculus VR will...

Improve Oculus Rift Development

Hamper Oculus Rift Development

Completely destroy Oculus Rift Development

Let's wait and see, I'm not sure

or View the Results

View More Polls

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases