Blackberry has reported a $670m (\u00a3450m) net loss in the last three months, almost triple the loss it made in the previous quarter.<\/p>\n
The heavy fall was due to restructuring costs and a write-down of some assets.<\/p>\n
Without one-off costs, the Canadian mobile phone company posted a $14m profit.<\/p>\n
Despite the hit, Blackberry shares gained in early trading as it said losses for the whole year would be lower than expected.<\/p>\n
Chief executive John Chen said greater efficiencies and strong growth in software and services would trim its losses.<\/p>\n
He said losses would be around 15 cents per share, compared with analysts’ forecasts of 33 cents per share.<\/p>\n
“They have not put figures behind some of their forecasts in quite some time, and hopefully that speaks to improved visibility into the business,” said Morningstar analyst Brian Colello.<\/p>\n
Blackberry is moving away from smartphone sales – in which it has less than 1% of the global market – and towards the device software used by companies and governments.<\/p>\n
The company said sales of its handsets, which had an average selling price of $290, were below projections in the quarter.<\/p>\n
Total revenue across the business dropped 14% to $ 400m in the three months to the end of May.<\/p>\n
–<\/p>\n
Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"
Blackberry has reported a $670m (\u00a3450m) net loss in the last three months, almost triple the loss it made in the previous quarter. The heavy fall was due to restructuring costs and a write-down of some assets. Without one-off costs, the Canadian mobile phone company posted a $14m profit. Despite the hit, Blackberry shares gained […]<\/p>\n","protected":false},"author":14,"featured_media":225231,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[106],"tags":[],"class_list":["post-225229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/225229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=225229"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/225229\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/225231"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=225229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=225229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=225229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}