WATERLOO, Ont. – BlackBerry said it lost US$965-million in the second quarter as revenue plunged 49 per cent from a year earlier amid dismal sales of its new smartphones.
Revenue for the three-month period was US$1.6-billion.
The results were in line with a warning issued last week by BlackBerry, when it announced 4,500 jobs will be cut from its global workforce.
The company said Friday it recognized hardware revenue on about 3.7-million BlackBerry smartphones in the quarter, with “most” of the units being its older BlackBerry 7 devices.
On a per share basis, the adjusted loss was equal to 47 cents per share compared to analyst expectations of 48 cents per share, according to a survey by Thomson Reuters
“We are very disappointed with our operational and financial results this quarter,” said chief executive Thorsten Heins in a release.
“We understand how some of the activities we are going through create uncertainty, but we remain a financially strong company with $2.6-billion in cash and no debt.”
Heins said BlackBerry is focused on completing its restructuring quickly in order to establish “a more focused and efficient company.”