Home >> News >> BlackBerry Earning Call of Q2 2013 cancelled, scheduled on this Friday

BlackBerry Earning Call of Q2 2013 cancelled, scheduled on this Friday


BlackBerry – a troubled phone maker has finally cancelled their 2013’s second quarter earnings call, which was actually scheduled on this Friday with its release of financial results.

BlackBerry expects a $1 Billion loss in Q2 2013
BlackBerry expects a $1 Billion loss in Q2 2013

As expected, the cancellation has been decided after the letter of intent to buy BlackBerry by Fairfax Financial. Fairfax is mainly into the insurance business, now aimed to take BB privately and focusing on business and enterprise solutions. Fairfax acquires the troubled Canadian phone maker for $4.7 billion, as signed earlier this week.

<

Before the acquisition, BlackBerry already announced a forecast of Q2 earnings, where it expects the revenue of $1.6 billion (down  from $3.1 billion of Q1) and the net operating loss as far as $1 billion. The company had high expectations from the BlackBerry Z10 smartphone sales, however it went on to the underwhelming sales. Recently, it also launched the improved version of smartphone – Z30, but it doesn’t seems to help the company as of now. The company has already announced to slash 4,500 jobs to cut operating expenses. Addition to this, T-Mobile has also announced that it will not stock BB devices anymore in its retail stores. This week is a terrible for the company as it also has to pause the release of much expected BBM app for android and iOS because of “the issue” created by the leaked unreleased version of app activation by more than a million users.

source

READ THE PRESS RELEASE

READ THE PRESS RELEASE

Waterloo, ON – BlackBerry® Limited (NASDAQ: BBRY; TSX: BB) today announced that it will release its complete second quarter financial results on Friday, September 27 at 7:00 a.m.

In light of the letter of intent agreement between BlackBerry and Fairfax Financial Holdings Limited that was signed and announced on Monday, September 23, BlackBerry has cancelled its second quarter earnings conference call and webcast that had previously been scheduled for Friday, September 27 at 8:00 a.m. The company will publish further details regarding its second quarter results in the Management’s Discussion and Analysis and consolidated financial statements, to be filed next week.


About John W Arthur

john@thenextdigit.com'
John is the head of our IT Security team and he writes about Security, IT news on The Next Digit. He was the Employee of the Year 2013 for his selfless support and efficiently setting up the whole security infrastructure. He also occasionally writes on "IT Sec Pro" Print Media of Sweden. All posts by John

Fatal error: Uncaught Exception: 12: REST API is deprecated for versions v2.1 and higher (12) thrown in /home/nitin198/public_html/wp-content/plugins/seo-facebook-comments/facebook/base_facebook.php on line 1273