A Blackberry smartphone is displayed in this August 12, 2010 illustrative photo. REUTERS/Bobby Yip/File Photo GLOBAL BUSINESS WEEK AHEAD PACKAGE SEARCH BUSINESS WEEK AHEAD JUNE 20 FOR ALL IMAGES
TORONTO: BlackBerry Ltd posted a bigger-than-expected fall in first-quarter revenue on Thursday, but forecast full-year results above market expectations.
Its shares were up slightly at US$6.79 in premarket trade as it said it expected to post an adjusted annual loss of around 15 cents, smaller than the loss expected by analysts.
The Waterloo, Ontario-based company reported a net loss of US$670mil (RM2.67bil), or US$1.28 cents a share, as it ran up costs to restructure operations and wrote down the value of some assets.
It said adjusted revenue was US$424mil (RM1.69bil).
A year ago, it reported a profit of US$68mil (RM271.5mil), or 10 cents a share. Excluding one-time items, the company posted profit of US$14mil (RM55.9mil), or nil per share.
Analysts, on average, expected the smartphone industry pioneer to post a loss of 7 cents a share on revenue of US$470.4mil (RM1.88bil), according to Thomson Reuters I/B/E/S.
BlackBerry said the net loss reflected a US$501mil (RM2bil) impairment charge, a US$57mil (RM227.7mil) goodwill impairment charge, and a US$41mil (RM163.8mil) writedown of inventory and other charges. - Reuters
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