9/27/2013

BlackBerry today offered more details of its dismal second-quarter results after warning a week ago that it would take a huge write-down and lay off one-third of its workforce. The Canadian company said revenues at its Americas division dropped by 56% to $610 million from the previous quarter. Overall, revenues fell by 49% and the loss was $965 million after the phone maker sold just 3.7 million handsets during the period. The company, which plans to take itself private, has canceled its investor call. In a statement, CEO Thorsten Heins said he was "very disappointed" with the results, but noted BlackBerry still held $2.6 billion in cash with no debt.

Related Summaries