BlackBerry’s share price is down 20 percent this morning, after the company announced a surprise loss of $84 million for its fiscal quarter Q1 2014.
The company actually posted growth during the three-month period: revenue rose 15 percent quarter-on-quarter to $3.1 billion while shipments of smartphones were up 13 percent, as the firm shipped a total of 6.8 million devices. Yet, that was undercut by the loss which has triggered the sale price to tank accordingly.
BlackBerry’s Q1 2014 was the first full quarter since the company’s new Z10 smartphones hit the market worldwide, but the company did not break out its sales, nor did it disclose the number of shipments for each device. The company did, however, reveal that it shipped approximately 100,000 units of its struggling PlayBook tablets, during the period.
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The company is currently hosting an investor relations call to discuss its financial results and plans for the future. The call is ongoing but already CEO Thorsten Heins has discussed the launch of BlackBerry 10, calling the five-month old platform a promising start for the rebirth of the Canadian firm.
It remains to be seen if Heins words and plans for the future can raise positive feelings among investors.
Headline image via Justin Sullivan / Getty Images
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