Blackberry Shares Fall

The Blackberry smartphone manufacturer has posted a net loss of $84m for its first fiscal-quarter of this year, sending its share price plunging by a quarter in early trading.

The loss was a considerable improvement on the $518m the company lost a year ago, but was still much worse than analysts had been expecting, according to cellular-news.com.

Revenues at $3.1bn, were however were up by nine per cent compared to a year ago. The revenue breakdown for the quarter was approximately 71 per cent for hardware, 26 per cent for service and three per cent for software and other revenue.

The company shipped 6.8 million smartphones, which it noted was an improvement on the previous three months. However, it was still down on the 7.8 million units shipped in the comparable quarter a year ago — the more usual measure of performance.

The company also shipped approximately 100,000 BlackBerry PlayBook tablets.

"During the first quarter, we continued to focus our efforts on the global roll out of the BlackBerry 10 platform," said Thorsten Heins, President and Chief Executive Officer of BlackBerry.

"We are still in the early stages of this launch, but already, the BlackBerry 10 platform and BlackBerry Enterprise Service 10 are proving themselves," he added.