BlackBerry ships 6.8 million smartphones in Q1, Stock down 28%
Blackberry pushed out its quarterly earnings report yesterday and the news is disappointing for the most part. Covering financial quarter 1 for 2014 ie from March to May 2013, the smartphone manufacturer has increased its revenues from $2.8 billion to $3.1 billion. The company has lost a total of $84 million which amounts to about 13 cents per share. Total device shipments were 6.8 million of which just about 40% were BB10 based devices. This brings combined shipments for the Z10 and Q10 to a very disappointing 2.7 million units.
Shipments for the company’s Playbook tablet too was reported at under 100,000 units. Blackberry announced that the Playbook will not be updated to BB10 as had been promised. The company refused to give a breakdown between the shipment numbers of BB10 devices. The market has responded to Blackberry’s financial results and stocks were down 28%. Overall the results are quite damning for the company and we’ll be quite interested to see how they aim to counteract this. Blackberry has given an outlook for the next quarter and expects to report further losses.