Blackberry cancels earnings call scheduled for Friday

Sep 26, 2013
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Blackberry cancels earnings call scheduled for Friday

Blackberry has announced that it will not be making its financial conference call on Friday, as was previously scheduled. Such a move, says the company, is the result of a bid it has received from Fairfax Financial Holdings, the largest shareholder for Blackberry. In addition to the cancelled call, the written talk about its financial results has been delayed until next week.

News of the bid was announced this past Monday, with Fairfax offering up $4.7 billion for the company that, despite some valiant efforts, has seen its fair share of woes. Earlier today, for example, marked the company's latest blow, with T-Mobile dropping BlackBerry 10 in-store stock due to poor sales and the resulting inefficiency presented by keeping the handset available.

The cancelled conference call doesn't mean the quarterly financial report won't be released, however, which is still set to be revealed on time. Last week, Blackberry revealed that it will be showing revenue numbers that fall below what analysts had expected to see, with about $1 billion of losses for the past quarter. Such dismal results are from the lackluster adoption of its newly launched Blackberry 10 smartphones.

It was also revealed last week that Blackberry had cut 4500 jobs, and that it would be refocusing its efforts on the prosumer and enterprise in an effort to right itself. There was a stock freeze, and prelease numbers indicated about 3.7 million smartphone sales. Of those sales, most of them were Blackberry 7 handsets. The company has more cuts planned over the next year, including a 50-percent decrease in operating expenditures.

SOURCE: The New York Times


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