Well, it’s finally happened via the release of BlackBerry’s Q1 2014 results [Warning: PDF]. The planet finally gets to see if the once dominant smartphone company is back, or if they’re a non-factor in the smartphone marketplace. Here’s the highlights:
- RIM posted revenue of $3.1-billion, up 9 per cent from $2.8-billion in the same quarter last year
- However the bad news is that they reported an adjusted loss of $67-million, or $0.13 per diluted share.
- They shipped 6.8 million BlackBerry smartphones and approximately 100,000 BlackBerry PlayBook tablets. I would guess that those numbers likely refer to the Z10 and not the Q10 for the most part. To put BlackBerry’s numbers in some sort of perspective, Apple sold 47.8 million iPhones and 22.9 million iPads in Q1 2013.
It is going to get worse for BlackBerry, here’s what they had to say about what’s to come next:
The smartphone market remains highly competitive, making it difficult to estimate units, revenue and levels of profitability. Throughout the remainder of fiscal 2014, the Company will invest in BlackBerry 10 smartphone launches, and the roll out of BlackBerry Enterprise Service 10, to continue to establish the new BlackBerry 10 platform in the marketplace. The Company will also invest resources to evolve BlackBerry Messenger into a leading cross platform mobile social messaging application, and launch other revenue initiatives associated with new services and emerging mobile computing opportunities. Based on the competitive market dynamics and these investments, the company anticipates it will generate an operating loss in the second quarter. The company will also continue to implement the cost savings and process-improving initiatives it started last year, in order to drive greater efficiency throughout the company, and redirect capital from these savings to areas of investment that will drive future revenue growth.
That’s not good. Investors clearly feel that as I see that BlackBerry stock is in free fall as I type this. It’s down 20% in pre-market trading. I think it’s safe to say that it’s going to be a bloodbath today for that stock.
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This entry was posted on June 28, 2013 at 8:12 am and is filed under Commentary with tags BlackBerry. You can follow any responses to this entry through the RSS 2.0 feed.
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Breaking: BlackBerry Reports Q1 2014 Results….. Brace Yourselves
Well, it’s finally happened via the release of BlackBerry’s Q1 2014 results [Warning: PDF]. The planet finally gets to see if the once dominant smartphone company is back, or if they’re a non-factor in the smartphone marketplace. Here’s the highlights:
It is going to get worse for BlackBerry, here’s what they had to say about what’s to come next:
The smartphone market remains highly competitive, making it difficult to estimate units, revenue and levels of profitability. Throughout the remainder of fiscal 2014, the Company will invest in BlackBerry 10 smartphone launches, and the roll out of BlackBerry Enterprise Service 10, to continue to establish the new BlackBerry 10 platform in the marketplace. The Company will also invest resources to evolve BlackBerry Messenger into a leading cross platform mobile social messaging application, and launch other revenue initiatives associated with new services and emerging mobile computing opportunities. Based on the competitive market dynamics and these investments, the company anticipates it will generate an operating loss in the second quarter. The company will also continue to implement the cost savings and process-improving initiatives it started last year, in order to drive greater efficiency throughout the company, and redirect capital from these savings to areas of investment that will drive future revenue growth.
That’s not good. Investors clearly feel that as I see that BlackBerry stock is in free fall as I type this. It’s down 20% in pre-market trading. I think it’s safe to say that it’s going to be a bloodbath today for that stock.
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This entry was posted on June 28, 2013 at 8:12 am and is filed under Commentary with tags BlackBerry. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.