BlackBerry to release Q2 results at 7am
Posted Sep 27, 2013 05:09:53 AM.
This article is more than 5 years old.
BlackBerry will report its second-quarter financial results this morning, offering the most detailed glimpse yet of how the weak consumer reception to its new smartphones has impacted the company.
The Waterloo-based firm has already disclosed that it expects to book a loss of between US$950 million and US$995 million for the quarter.
Most of that will come from a massive writedown of up to $960 million, primarily from poor sales of its BlackBerry Z10 touchscreen smartphones.
However, investors won’t see much more than the numbers because BlackBerry executives have scrapped plans for their usual quarterly conference call with analysts after the results are released at 7 a.m. ET.
The decision was made after investment firm Fairfax Financial made a conditional takeover offer for the company earlier this week.
The tentative offer of $9 cash for each share values the Canadian smartphone company at about US$4.7 billion.
