BlackBerry's first quarter fiscal 2014 earnings report shows that this leading mobile manufacturing company is facing a net loss of $84M on total sales revenue of $3.1 billion.
BlackBerry has issued its first quarter earnings report of 2014 today that shows a net loss of $84 million. It means that the Canadian manufacturer is facing $0.16/share loss on the total revenue of $3.1 billion. This is a bad news because the analysts estimates an expected net profit of $0.07/ share with revenue of $3.36. RIM (Research In Motion) Limited has reported this loss on earnings of three months ended on June 1, 2013.
Don't Miss: This is How to Find a Nintendo Switch in Stock
Though there is an increase of shipments by 13% from previous quarter and 9% from same quarter of last year. Total of 6.8 million smartphones were shipped during this period. Out of these, 2.7 million shipments are of Blackberry Z10 and Blackberry Q10 having touchscreen and small keyboard. Both these devices were launched earlier this year and did not reach the expected targets. Also the profit of $3.1 billion is also an increased one by previous quarter. A 15% jump is made in revenues. But despite all these increases, BlackBerry is facing a heavy loss of $84M. It seems that BB10 also won't work for getting profits. It may be because RIM is still in early sale stages of the new BlackBerry 10 devices.
Image Credit: Getty Images