BlackBerry said Friday it lost a net $965...
BlackBerry said Friday it lost a net $965 million in its Q2 on revenue of $1.6 billion; it had reported a net loss of $229 million on $2.9 billion revenue during the same period last year (http://bit.ly/1auNZ9J). Much of the…
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net loss -- $934 million -- was due to a writedown for BlackBerry’s inventory of unsold Z10 smartphones. The company had hoped the new touch-screen model would mean an improved economic outlook. BlackBerry sold 5.9 million mobile phones during the quarter, though most were older models; the company only recognized revenue from 3.7 million of the phones because the rest had been purchased before the start of the quarter. BlackBerry had planned a conference call with investors Friday, but cancelled it after top shareholder Fairfax Financial reached an agreement to buy the company and take it private.