BlackBerry falls short of estimates in fiscal first quarter

BlackBerry shipped 6.8 million smartphones in its fiscal first quarter but missed analysts' predictions of 7.5 million units and posted a loss when Wall Street expected a profit, the company reported today. Executives declined to break out sales of new BlackBerry 10-based models and older handsets, nor did they disclose the company's total subscriber base. BlackBerry said it would have broken even if not for a one-time loss due to Venezuelan foreign-currency restrictions. Revenues of $3.07 billion missed the analysts' estimates by 8% but still rose from $2.8 billion a year ago. Executives declined to provide guidance, saying the market remained "competitive."

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