Back in March, BlackBerry announced surprisingly impressive fourth quarter profits, but it looks like that success has been short-lived as the Canadian company today reported a loss in profits in its fiscal first-quarter report. Falling way below what analysts expected, BlackBerry’s shares fell by more than 20% in pre-market trading.
BlackBerry reported a loss of $0.13 per share, or a net loss of $84 million, which was way below the expectations that it would profit by $0.06 per share, and revenues of $3.1 billion, which was also below the expected $3.36 billion revenue expected by analysts.
The company didn’t give an exact number of how many BlackBerry 10 devices were sold, but did say that it shipped a total of 6.8 million smartphones in the quarter. However, in an earlier earnings call, BlackBerry announced that it had sold 2.7 million BlackBerry 10 devices in the quarter.
Following the company’s earnings report today, BlackBerry’s shares dropped more than 25%.
The company also revealed that it will not be bringing BlackBerry 10 to its PlayBook tablet. CEO Thorsten Heins said “performance and user experience” concerns are the biggest reason for not bringing it to the tablet.
“Over the next three quarters, we will be increasing our investments to support the roll out of new products and services, and to demonstrate that BlackBerry has established itself as a leading and vibrant player in next generation mobile computing solutions for both consumer and enterprise customers,” Heins stated.
Image Credit: CrackBerry