{"id":9503,"date":"2014-03-28T16:40:03","date_gmt":"2014-03-28T16:40:03","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=9503"},"modified":"2014-03-28T16:40:03","modified_gmt":"2014-03-28T16:40:03","slug":"blackberry-reports-5-9bn-annual-loss","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=9503","title":{"rendered":"Blackberry reports $5.9bn annual loss"},"content":{"rendered":"<p><a href=\"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2014\/03\/BLACKBERRY.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-9504\" alt=\"BLACKBERRY\" src=\"http:\/\/4cd.e16.myftpupload.com\/wp-content\/uploads\/2014\/03\/BLACKBERRY.jpg\" width=\"464\" height=\"261\" srcset=\"https:\/\/citifmonline.com\/wp-content\/uploads\/2014\/03\/BLACKBERRY.jpg 464w, https:\/\/citifmonline.com\/wp-content\/uploads\/2014\/03\/BLACKBERRY-300x168.jpg 300w\" sizes=\"auto, (max-width: 464px) 100vw, 464px\" \/><\/a>Troubled smartphone maker Blackberry has reported a net loss of $5.9bn (\u00a33.5bn) for its latest financial year.<\/p>\n<p>However, in the three months to 1 March it recorded a smaller-than-expected loss of $423m, compared with a loss of $4.4bn in the previous quarter.<\/p>\n<p>The company said it was pleased with its fourth quarter performance, and that it was on &#8220;a path to returning to growth and profitability&#8221;.<\/p>\n<p>Boss John Chen said the firm was moving to a &#8220;sounder financial footing&#8221;.<\/p>\n<p>Blackberry devices have recently lost out in the high-end smartphone market to Apple&#8217;s iPhone and phones powered by Google Android operating system.<\/p>\n<p>During the financial year, the company&#8217;s losses included $934m on unsold Z10 smartphones, and restructuring costs of $512m.<\/p>\n<p>Fourth quarter revenues fell to $976m, below analysts&#8217; expectations of $1.1bn.<\/p>\n<p>As part of its turnaround plan the firm is focusing on its services arm, and is also putting renewed emphasis on its keyboard devices.<\/p>\n<p>Mr Chen was appointed as interim chief executive in November 2013.<\/p>\n<p>&#8220;The guy is on the move fast,&#8221; said Colin Gillis, an analyst at BGC Partners. &#8220;He can control expenses but you can&#8217;t magically make revenue happen.&#8221;<\/p>\n<p>Blackberry&#8217;s shares rose after the results were published, gaining over 5% in value.<\/p>\n<p>&nbsp;<\/p>\n<p>Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Troubled smartphone maker Blackberry has reported a net loss of $5.9bn (\u00a33.5bn) for its latest financial year. However, in the three months to 1 March it recorded a smaller-than-expected loss of $423m, compared with a loss of $4.4bn in the previous quarter. The company said it was pleased with its fourth quarter performance, and that [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":9504,"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":[],"tags":[18],"class_list":["post-9503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-dr-akwasi-osei"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/9503","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=9503"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/9503\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/9504"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}