Press Release: BlackBerry reports Q1 2014 earnings

BlackBerry Earnings Report
By Kevin Michaluk on 28 Jun 2013 07:01 am EDT
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OK CrackBerry Nation, buckle up. BlackBerry has just posted their earnings announcements for Q1 2014. You can read it below, or click here for the official press release via marketwire. Revenue for the quarter was $3.1 billion, up 15% from the previous quarter. 6.8 million smartphones were shipped (no breakout of BB10 sales), up 13% from the previous quarter. GAPP loss is at $84 million, but cash flow from operations was $630 million, leaving the cash and investment balances at $3.1 billion. In early minutes of pre-market trading after the announcement was made, the stock is down ~ 15%. Essentially, BlackBerry delivered closely to what they guided to last quarter (they said they'd be approaching break even - take out the Venezuela adjustments and they're around - $3 M). Market reaction is definitely negative right now - if you're long, at this moment you're shedding some tears right now.

Be sure to jump over to our Earnings Live Blog and Chat to discuss the results, and to tune into the Earnings Call which is coming up at 8am ET. Once the dust settles, our in-house analyst Chris Umiastowski will report back with his editorial on market reactions and what the numbers all mean. We'll also be following up later today with a live CrackBerry podcast at 1pm ET. 

Press Release

June 28, 2013 07:00 ET

BlackBerry Reports First Quarter Fiscal 2014 Results

WATERLOO, ONTARIO--(Marketwired - June 28, 2013) - Research In Motion Limited (doing business as BlackBerry®) (NASDAQ:BBRY)(TSX:BB), a world leader in the mobile communications market, today reported first quarter results for the three months ended June 1, 2013 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).

Q1 Highlights:

  • Revenue $3.1 billion, up 15% sequentially from the previous quarter
  • North America revenue grows sequentially 30%, APAC revenue grows 35%, EMEA revenue grows 9%
  • LATAM revenue declines 6% as Venezuela foreign currency restrictions negatively impact $72 million of service revenue recognition in the first quarter; company gross margins negatively impacted by 2%
  • Shipments of 6.8 million smartphones, up 13% sequentially from the previous quarter
  • GAAP loss from continuing operations of $84 million, or $0.16 per share
  • Adjusted loss from continuing operations of $67 million, or $0.13 per share
  • Venezuela foreign currency restrictions impact reported GAAP earnings and adjusted earnings by approximately $0.10 per share; excluding such impact, adjusted earnings in-line with previously provided outlook of approaching breakeven financial results
  • Cash flow from operations of $630 million
  • Cash and investments balance of $3.1 billion

Q1 Results

Revenue for the first quarter of fiscal 2014 was $3.1 billion, up 15% from $2.7 billion in the previous quarter and up 9% from $2.8 billion in the same quarter of fiscal 2013. The revenue breakdown for the quarter was approximately 71% for hardware, 26% for service and 3% for software and other revenue. During the quarter, the Company shipped 6.8 million BlackBerry smartphones and approximately 100,000 BlackBerry PlayBook tablets.

GAAP loss from continuing operations for the quarter was $84 million, or $0.16 per share diluted, compared with a GAAP income from continuing operations of $94 million, or diluted earnings per share of $0.18, in the prior quarter and GAAP loss from continuing operations of $510 million, or $0.97 per share diluted, in the same quarter last year.

Adjusted loss from continuing operations for the first quarter was $67 million, or $0.13 per share diluted. Adjusted loss from continuing operations and adjusted diluted loss per share exclude the impact of pre-tax charges of $26 million ($17 million on an after tax basis) related to the Cost Optimization and Resource Efficiency ("CORE") program. This impact on GAAP loss from continuing operations and diluted loss per share from continuing operations are summarized in the table below.

The total of cash, cash equivalents, short-term and long-term investments was $3.1 billion as of June 1, 2013, compared to $2.9 billion at the end of the previous quarter, an increase of approximately $200 million from the prior quarter. Cash flow from operations in the first quarter was approximately $630 million. Uses of cash included intangible asset additions of approximately $335 million and capital expenditures of approximately $83 million.

"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 CEO 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 to customers to be very secure, flexible and dynamic mobile computing solutions. Over the next three quarters, we will be increasing our investments to support the roll out of new products and services, and to demonstrate that BlackBerry has established itself as a leading and vibrant player in next generation mobile computing solutions for both consumer and enterprise customers."

Outlook

The smartphone market remains highly competitive, making it difficult to estimate units, revenue and levels of profitability. Throughout the remainder of fiscal 2014, the Company will invest in BlackBerry 10 smartphone launches, and the roll out of BlackBerry Enterprise Service 10, to continue to establish the new BlackBerry 10 platform in the marketplace. The Company will also invest resources to evolve BlackBerry Messenger into a leading cross platform mobile social messaging application, and launch other revenue initiatives associated with new services and emerging mobile computing opportunities. Based on the competitive market dynamics and these investments, the company anticipates it will generate an operating loss in the second quarter. The company will also continue to implement the cost savings and process-improving initiatives it started last year, in order to drive greater efficiency throughout the company, and redirect capital from these savings to areas of investment that will drive future revenue growth.

Continue Reading Full Press Release Here

Earnings Live Blog and Chat

Reader comments

Press Release: BlackBerry reports Q1 2014 earnings

199 Comments

That maybe lost money but compared to a year ago the losses are far less. That's a good sign. Next two quarters will be the real story

Posted via CB10

Revenues are up, which is good, but they are still losing money. $75 mill loss from continuing operations. It basically means it costs them more to run the business than the revenues they are generating.

Posted via CB10 on my Q10

But was this to be expected.

Did BlackBerry predict that they will lose this year and only see a profit next year.

You would think it would take more then a few months after the Z10 was release to see fruits on the tree, no?

Check out my "What Were They Thinking?" channel: C000BB092

Wasn't expecting anything but bad news. In fact, I'm holding one of those bad news's right now typing this comment. I left another device to come back to BB, but the desire to leave has returned, and only after 4 months.

I want to support BlackBerry, I really do. But not enough differentiation and innovation mixed with delayed reaction to the market and consumer demands equals poor and disappointing results, naturally.

As a consumer I have a right to speak up. I had so much hope for the new BlackBerry, but poor quality applications and buggy BlackBerry Link updates have contributed to a very frustrating user experience.

Anything worth looking forward to would require industry-leading design and features, as well as a shift in thinking. Maybe QNX and commercial applications is the future for BlackBerry, and let the consumer-centric corporations of Apple and Android offer devices for the rest of us.

Had enough. Very upset and let-down customer.

Posted via CB10

I'm a venezuelan, and we only have access to 2000$ when we travel and 400$ to spend on internet(ebay, amazon), the Z10 is retailing at almost 1000$ and a lot of people is talking shit about Blackberry, carrier support has been absent, seriously I've never even seen a BB10 device in any store(I've never seen a BB10 dev never actually) also our economy is going down and I'd say that only about 20% of the people can afford to buy a 600$ smartphone. The short answer is that the country is going down the drain and people throw shit at Blackberry.

Looks about 66% good news to me, but I willfully admit I know nothing about this stuff.

~STV on Z10STL100-3/10.1.0.2025 TMO US

~3 million was the expected number for BB10 phones. The 6.8 million is BB10 and BB7 sales together, which is less than expected unfortunately.

Posted via CB10

At least they mentioned the PlayBook, albeit in the past tense. How could they ship 100,000 when retail channels were practically empty? Maybe They're setting up the PB to be blamed for the quarterly loss.

Posted via CB10

So I'm confused, is this good or bad, to me it sounds good but I see some comments as if it were bad

sent from my baby z10

Posted via CB10

The way I see it, BlackBerry missed overall street expectations. I'm long BBRY and will pick up more now, just need to know when?

Posted via CB10

Their earnings could have been worse. Over all the company looks like it's moving forward. Still going to be a rough day on the market..

Posted via CB10

Dang and I was hoping to buy some new wheels for my car. Oh well, I'll just buy some more stocks and wait for the next few quarters.

Jamaican me crazy bout my z10. Respect

If you read into the press release and follow the numbers deeper where they show a comparison to last June 2012 as well as last month. The numbers are far superior. The fact that the advertising. Marketing component went up by an expenditure of 150 million from March 2013 is significant. The numbers if excluding the currency issue in Venezuela would be much better. But overall in my opinion and as a current shareholder I like what o see when comparing numbers. But there is a point to be made here and another poster asked it. What percentage of sales were on the OS10 versus legacy. That's something that as an investor I would love to know. But it does appear that that was a major driving force in numbers but that's just an educated guess when looking at a year ago to today. I am a shareholder and i like what I've read and heard so far but I'm not "the street". Or investment gurus so i cant speak for wall Street or Bay street people. Here's to hoping they read it as I did and liked it.

Posted via CB10

I'm also a investor and I have to say your comment makes me feel a little better about how much money I lost over night. I really hope you're right

Posted via CB10

Lol. I bought shared with RIM in 2003 when they bottomed out at 7.85/each. I bought 2000 shares then. I have faith in the company. It will take time but they need to do better marketing of the os10. And the fact they are developing another os7 product kind of upsets me. They need to move forward not backwards. That's saying the wrong thing to the consumer. They just need to create lower prices os10 units for American markets. And market the hell out of them. The marketing side is what's wrong. If u own a legacy u know that a battery pull is pretty cheap going to happen frequently. When u switch to ios u like that it doesn't happen. Why would u switch back to BlackBerry. That's what BlackBerry has to train and educate the customers and explain why the phone is superior. BlackBerry has by far the best browser and html5 capabilities. Yet most people don't know this. Poor marketing. That's who's hurting them. They are going to fall behind if they seriously don't love forward. That said it's a solid product and next quarter should show better overall results. Especially in year over year. As long as revenues rise and losses slow down its a good step forward. I do have faith and i hope u do too :).

Posted via CB10

Soo..
In Average Joe language: we didn't fulfill our expectations did we? The BlackBerry bashing will continue. :(?

Posted via CB10

I am surprised that they did not breakout bb10 device sales. That is not a good sign.

That said, the company continues to progress forward.

Posted via CB10

I thought it was going to be better then this but u don't think it was that bad. Almost 7 million phones is great, there still hasn't been a full launch.

I'm curious where are these PlayBook sales coming from I have 2 and love them but j have been trying to buy one since last Christmas but there is none for sale in Canada

Posted via CB10

I saw them on sale recently in a number of spots. No need to making sweeping generalizations unless you have traveled the country far and wide

Only 40% of the 6.8 million phones are BB10 devices. This means BBRY was bolstering great sales figures while everyone was watching how many BB10 phones were sold. Little did we know they were including BB7 phones with those sales.

It probably is close to their guidance but it definitely missed the streets expectations and certainly longs

Posted via CB10

A share price drop may result in a take over / purchase attempt. BlackBerry may be a bargain, but hard to say for certain. The revenue drop as a result of the Venezuela currency issue is governmental. Take that out of the equation and they are at near break even. Sales are lower than expected, but can anyone be surprised? BlackBerry launched later in the US. My friends, co-workers, and industry peers are just getting their BB10 devices now from their employers. As a BYOD user, I was an early adopter. I think the sales figures are trailing and lack the corporate sales. Our company has 400 BB devices, of which 7 are BB10, 2 are BYOD, and 1is a BES10 tester. Most want the Q10, but have to wait for contracts to expire or wait for an upgrade opportunity. That will feed BlackBerry revenues for next 12 months.

Posted via CB10

I would agree with this, looking around I am seeing a few more Z10s all the time but the number of Q10s I am seeing is growing at a much faster rate with many business people anxiously waiting to get one. That said lots of those are upgrades from the 9900. This is a personal observation only and does not speak to proof of anything, it just makes me think it could be happening in other places. There is a desire in the business world for a better phone than the established offerings.

Posted via CB10

Like their advertising keeps saying... "Keep moving..." moving down... Pre-Market has BBRY at $12.00 or down $2.48 (17.13%). I guess they were hoping to sneak this in before the Canada Day long weekend... Interesting they still won't say how many BB10 devices they've actually sold, yet fans boys keep whining about vendors not writing apps for this platform, no you know why...

Yeah it seems BlackBerry is doing okay... but that's about it for now. I must say it's below what I have hoped for, but above expectations.

However, BlackBerry 10 had not yet been fully rolled out worldwide during most of the quarter. So the next two quarters will have significantly more impact on BlackBerry market position... for better or worse! hope better of course...

6.8 million devices is quite ok for a totally new platform in an iOS / Android era. I wonder how many legacy devices have been included in the number... if BlackBerry 10 had sold outstandingly good, we would've heard specific numbers I think...

100000 playbooks shipped? That's pretty darn well for an almost unsupported tablet. BlackBerry should reconsider their current tablet strategy...

I do remember the 6 devices 2013 would bring and one of the "pictures" did look an awful lot like some sort of a tablet... was Thor screwing with us in order for them to make us crazy when a new revamped PlayBook Hits the market during holiday season? Aah well, nothing wrong with some wishful thinking right? Go BlackBerry!

Cracked it out with the amazing Z

It's pure evil, costumers not buying because the lack of apps, developers not developing because the lack of costumers.. :(

Posted via CB10

I think Alicia Keys is sucking out all the money with her blackberry tour. ;-)

Posted from my Z10 using CB10

Because investors like to see results, they can't invest millions of dollars based on faith alone.

Posted via CB10

One good news, cash and investment balance is up, BBRY is not burning cash as I was expecting, meaning it's still a good long term value investment.

Posted via CB10

Ugh. Shares now down 19% and the markets not even open yet. I think they will rally a little as the day goes on but I'm guessing they'll end the day 10% or so down. Reuters headline won't help, "blackberry reports quarterly loss, shares plunge". I don't like the word plunge, doesn't offer much confidence. They also state that BlackBerry are forecasting a loss for this current quarter, which is disappointing.

Posted via CB10

I'm missing something...revenue up, cash flow up, earnings up and shipments up...how is this in any way bad?? Doesn't even include US Q10 in these numbers. And limited Q10 time frame in general. SMH

Posted via CB10

How's earning up, gross margins down to 33 from 40...its not the worst case but it's still bad..no mention of BB10

Posted via CB10

i've been sayin' that for months,,, they ain't listening,,, i guess it's hard to do when your heads in the sand...

The Q5 could save rim if priced right, I still feel their initial pricing on the z10 and q5 is way off. Only diehard BlackBerry users like myself would purchase at those price points. Food for thought

Posted via CB10

I agree. I think the Q5 is overpriced right now. BlackBerry Curve models have been the go-to phone for teens in the UK for years, you have been able to pick them up on pay as you go for between £80-£180 for years, but they can't afford £300+ to get the q5. Especially now with bbm coming to other platforms, if the price point of the q5 isn't lowered in line with prior budget BlackBerry phones I think a lot of teens will move to cheaper android phones.

Posted via CB10

Agree. BlackBerry should cut the price of Q5 to below US$ 250 to attract new users especially android ones.

Posted via CB10

Agreed - Q5 should be rounf the £250 mark in the UK - the devices are way too overpriced, especially given the competition.

Posted via CB10 on my BlackBerry Q10

Step by step lady's and gentleman's
There are few things to be done like BB-link OS10.2 and then we will claiming to the top...

Posted via CB10

Considering that the IS carriers are not marketing BlackBerry, I would say it's not that bad.

SILENCE!!! For I have spoken...

Squawk Box Lady just said she's a blackberry die hard fan. She still has a 9000 because the Q10 hasn't become available yet. Wtf????

Posted via CB10

What is she smoking?
Must be something good coming from a blackberry "die hard"

Posted via CB10

Squawk box lady is also said she is getting an iphone...just kidding...she is a die hard fan..he q10 is not activated by her employer NBC yet

Posted via CB10

This time last year: loss of $518 million.

This year: loss of $84 million

Still a loss, but what it shows is they are approaching a balance. What it shows is growth. What it shows is despite being way behind the 8-ball compared to the other smartphone companies, they are making an impact.

No one ever said it was going to come overnight, and this shows that there is a lot of hard work going on and that the platform is gaining traction. A lot of people will try to spin this negatively, but this is a great statement for the direction the company is moving in.

JB

What I find the most disturbing from the earnings call, is not the $84M loss, or the fact they still won't say how many BB10 devices SOLD, is the fact we have heard nothing, zippo, zero, zilch from Alicia Keys.

Not bankrupt at least. So many people are locked into 3 year contacts (like my wife) and can't even look at a new phone until 2014!!!! Clearly expectations were unrealistic but, sad it wasn't better.

Still in love with my Z10 and the families getting BlackBerrys only. Good article but, as I don't understand the jargon, flew way over my noggin. Oh well.

Posted via CB10

Personally I think we won't get the full picture until the Q2. A lot of people still have to realise that the carriers hold all the advantages regarding releasing products.

Obviously a lot of people will be pleased with the result. The slow launch of the Z10 and Q10 in America will have some bearing on these results.

Mr Heins time to roll your sleeves up and knuckle down, there is much work to be done.

Posted via CB10

Oh dear. And that figure is for TOTAL sales - what is it specifically for bb10? 3 million, more, less?

Ouch...

Posted via CB10 on my BlackBerry Q10

Even taking the currency exchange it was a loss. This is a bad miss when some degree of profitability was expected. Strategically I think mgt thought this qtr would yield a profit on the strength of the Z10 with the Q10 following on in the next qtr. To start stringing together good operating results. But it didn't work. Not sure what they'll do, but I think we're much more likely to see some drastic moves &/or redirection.

Over price.........this is the no 1 problem to people. new os, lack of app and not stabil software. I had z10 it nice and solid but heating issues still bother me crazy

Posted via CB10

Patience, my friends, patience. Next two-three quarters will tell us a lot about BB future. The Q5 will have a great impact. And the US sales will be included in Q2. Don't panic and keep your shares.

Shipments good. Financials not.

Glad I trimmed my position. Will go long again in the $12-13 range. Good trading stock.

Posted via CB10

i have no doubt the Q2 will be high. the fn device that everyone has been waiting for 1. came out late with DELAYS and 2. hasnt even hit some carriers.

Z10 available in 147 countries and Q10 in 96 countries. With a 106 carriers launch hinge the Q5. What I want to know is why the hell is BlackBerry planning on one more bb 7 os phone!!!!!

Posted via CB10

Very unfortunate. I'm now starting to wonder if they will ever be able to turn it around.

Posted via CB10

what's driving this plunge is the HUGE negative earnings surprise...period. And a miss of $.23 doesn't happen without some kind of major screw up. I've been a shareholder for years...but this is the final straw. I'm out

Posted via CB10

Doesn't hurt that a massive number of short calls are on the stock and that the shorts are playing their cards now ;)

From the ZED via CB10.. booyah!

Fire Alicia Keys what a useless ambassador for this product and company, I have not seen or heard of any extra push or marketing for her camp, since the February launch.

Posted via CB10

2.72 million BB10 devices sold (40 percent of total 6.8 million).

Below street estimates..

Posted via CB10

there we go - yikes. 6.8 million shipped, 6.8 million sold.

40% (2.72 million ) are BlackBerry 10 .... this will drive the stock down. Ouch

Wow, this is not good at all no matter how we try and spin it. This was the day many were waiting for, a lot had high expectations, but they fell short. Sure we can say "yeah but the Q10 just landed in the US, and the Q5 is not released yet" but people still expected this to be the turnaround and they had a chance to do so. Unfortunately, they did not. Crap news for this Friday morning.

Less than 1m BB10 devices shipped per month around the world. I love my Z, and i hold shares, but that's just terrible. Apple manage to sell that many in a day when they launch a new product /:

Posted via CB10

I guess I expected this. BBRY is focusing too much on markets in which it's already strong, leaving all the other markets without powerfull marketing. BB10 has arrived in 147 countries but only a dozen of them received the proper marketing and advertising. It'as as if BBRY already decided to remain small. On the contrary, Samsung's marketing is extremely strong all over Europe. Apple doesn't even nedd to advertise that much. But even Apple strongly advertised iphone 5 here in Greece (TV commercial, magazines, internet etc). Do you know how many BBRY advertisements aired in Greece???? Zero. And forget Greece. Slovenia? Chech Republic? Roumania? Poland? Austria? Ukraine? These are real countries with real people, who buy smartphones. Instead, BBRY cares only for Canada, the UK, India, Dubai and , secondly, the US. Thorsten, you are a coo guy and I like you but you need to become more agressive in 130 out of the 147 countries....

Company already announced it anticipates another loss in Q2.
Not good.
I was hoping Q1 would be the bottom, but there's still room to drop. Damn................

Blame time! Pick your target(s):
- Samsung
- Apple
- Carriers
- Governments
- Media
- CB forum trolls

Posted via CB10

While I understand that this is meant to be important and whatever, I have to say, as a layman, the fact that a company's future and true worth is in the hands of market speculators and financial analysts, is a shame. True innovation and creativity could not possibly ever be measured that way.

By the sound of these news and information, both the company and its clients are real loosers...funny as I'm typing this comment on my Z10 it doesn't feel that way!

But what the hell do I know ?! I'm just a consumer, and it seems that consumers have no voices these days, they are being replaced by some cheap Gordon Gecco knockoff, who society has annointed as gatekeeper over people's livelihoods...

Posted via CB10

"I have to say, as a layman, the fact that a company's future and true worth is in the hands of market speculators and financial analysts"

It's not. The company is still functioning reasonably well despite the negativity. It's in the middle of a recovery and needs another year or two to see exactly where things will end up. (I imagine as a decent niche player).

The price is falling because people are selling desperate. Not for any other reason. And they're selling either because they know what they're doing and want to start a collapse (successfully it would seem), or because they're idiots and don't know what they're doing or wanted to make a quick buck and then sold their shares in disgust when their dreams didn't work out.

Stock prices are all about the stupidity of humans deciding whether to buy or sell. Not the success or otherwise of the company.

And when the morons sell it's time to buy. :-) At least once the dust settles.

It's exactly what I was expecting.

This is the real world folks. Most countries are suffering low growth - even China's growth is lower than in previous periods.

I still have friends who are stuck with their BB7 devices because they can't justify the expense to upgrade or because they're in a plan and don't want to take a hit.

Unfortunately there are too many emotional buyers holding this stock who bale because the company hasn't met their wildly unrealistic dreams. Hence 30% of shares are short. Not because the company is going under. But because the people holding the stock are unrealistic (just read the blogs). They love to buy high and sell low.

Unless BlackBerry had announced incredible numbers (never likely to happen) the price was always going to fall. They've effectively announced flat numbers in line with guidance and it's down $3 already. It would have been down even if they'd announced significant profit.

BlackBerry is a long term hold. If you have shares and want to make money you'd better be prepared to hold on to them for a couple of years at least.

I'm pretty sure these numbers will get better by the end of the year. I think the number of shipped devices will improve greatly after the Q10 and cheaper Q5 go worldwide. And, of course, after the monster device we're dreaming about (Aristo). We must keep our thoughts positive. that's a transition period. Things will get better!

Posted via CB10

What did you all expect? RIM has stated numerous times that 2013 wasn't going to be a great year. This shouldn't be a surprise to anyone.
To top it off, launching after some of the other big phones and missing out on holiday sales definitely affected their ability to sell a lot of sets.
Technically, they didn't lose any cash - again, no surprise because money needs to be poured into marketing and building a new OS. To put that money into resources and still grow your cash value is hard work.
Sure, any anti-BB analyst or 'reporter' will jump all over today's news.
They're still not going anywhere.

Posted via CB10

Goodbye app support now....m we will get nothing. same story is unfolding before our eyes with previous BlackBerry Os.

Posted via CB10

Gotta chime in here again...this new OS has been up and running for what 7 months now...and the BB10 devices for about that long, if you take into consideration the Z10 only without the Q10 and Q5...

To declare all this a failure after such a short time span, because once again the f**king market says so, is ludicrous!!!

Does anyone remember how long it took "hallowed" Apple to turn around its fortunes? Years...the company was bleeding revenue and operating at a loss for a long time, before the Sith Lord Tyranus Jobus returned to the company he had so gleefully abandoned years before. And even after his Lordship's returns it took a while until Apple became the behemoth it is today...Sure BlackBerry has a different path and history, but I find it disingenuous that this one new cycle is taken to be the end all and be all...it is quite weird to see all the sharks in the water and people running around like chickens with their heads cut off...thinking the sky has fallen!

I'm just a customer who decided to spend money on the products this company has to offer. There are many more pressing and important matters going on in the world right now besides BlackBerry and it's future, but the one thing that irks me, at the risk of sounding like a broken record, is that the market, once again, gets to decide the fate and livelihoods of people. Remember that there are actual people working for this company, earning real paycheques, people who have families to support. So when the market and the parasites who inhabit it come in and pronounce these dour arbitrary verdicts...there are some real life consequences arising.

Again, I don't want to share tears of pity for a corporation (feel sorry for the folk that invested in it though), but at least I know what they do, in concrete terms. I can see right now as I am typing this damn comment, the end result of their labour and production. The Z10 I have, is a real, tangible object I'm now holding in my hands and using, and it does impact in whatever way my daily life in terms of communications, keeping in touch with family and friends etc.

Can anyone remind me what the f**k does the market and it's douchebag acolytes have to contribute to our daily lives besides constantly f**king th up?!

Posted via CB10

Talk about Layman's terms lol shares down 28% .. those who shorted it could have made 28% in 1 day .. lucky I guess.
I have the Q10, it has some sad glitches (intermittent).
First some side bars:
1. No OS updates since it's release available for my device with Bell.
2. Bell Mobile TV unavailable
3. Soundhound is available ...but no Shazam. (Soundhound failed on some song on the radio playing through my loud speaker system...now I'll possibly never know what song that was :( )
4. no TinyChat app ...just good to know if they are keeping up
5. no ScenePlay app.
6.no iBillionaire app :(

The good:
-the Q10 is fast and like an Android with a keyboard
-compared to the Bold, you can download multiple apps at once without freezing the phone
-compared to the Bold you can also not see the hourglass icon

The bad:
-no podcasts?
-Missing Apps(see above)
-compared to the Bold, well the OS a bit unstable -- 1. text was typing backwards once. 2. my texts and whatsapp messages each got "jammed" and when I waited, my text draft was deleted when the OS finally caught up. This usually happens if you sent I guess long messages or quick messages to the same contact and you see the screen lagging to catch up.

Good post, didn't know Soundhound was available. The lack of essential apps is pathetic in my opinion. No excuse for it.

Waking up out here in the Cali and this does not make for a good morning. I guess I was a little too optimistic. The stock's definitely going to get hammered and the tech media is going to begin their obituary articles yet again.

White Z10 Verizon 10.1.0.1483

BlackBerry has difficulty in delivering. This was a highly fragmented rollout. Its typical for a small firm in this situation. The playbook saga is another indication. Bad move by Heins. He should have kept his word. Instead he continues the reputation that has caused BlackBerry fans to defect. BlackBerry is just too small to compete. But it should keep its word.

Posted via CB10

"For the quarter ended June 1, the company reported a net loss from continuing operations of $84 million, or 16 cents per share, compared to a net loss from continuing operations of $510 million, or 97 cents per share, for the same period last year."

To me, BB, you did well. It would have been nice if you made immediate returns on investment but this didn't happen. Press on. Keep improving. Keep moving.

I think BlackBerry did well, from what they were in 2012. Give some time, you can't expect blackberry to have million and millions of sales. I think we should give it till 2014, cause that is when all of the devices will be out. Why do people think blackberry should be back to normal only 6 months after bb10 release. Calm down it Wil get better.

Posted via my white Z10. LG banter- blackberry bold 9900- Z10

The only thing I liked about what they said today is that they will focus on their core products. Something they should have been doing from the start. What to date has Alicia Keys, Gaiman or Rodriquez contributed that has benefited the shareholders who are taking all the risk? What was our ROI on the Super bowl ad? What did the million of dollars of spend give us in quantifiable terms? Samsung spends more money on marketing then on R & D and look at the results and they are product focused even without their own OS. What BB needs is some visionary leadership that knows how to complement an awesome OS with a product that is its equal, meaning the best of the best, instead of lagging on the specification front and then making excuses that it is not important. They need to get their updates under control and instill some confidence that they are in control of their destiny, as well as deliver products on time.
A very disappointed customer. Just as a side note my battery cover on my Q10 is loose, very annoying and does not speak to quality. Not going to apologize for my statements but money needs to be spent where it derives the best benefit. Glitzy marketing campaigns that achieve unquantifiable objectives only hurt an organization, and disappoint customers and investors alike. It would be nice to hear ongoing good things said about BB, instead of the continuous barrage of negativity from all sides, including BB itself as was portrayed today in their conference call.

The good news is that you might be able to get a Playbook for about $100 on Amazon soon...not bad for just casual web-browsing and such while sitting around your house....I do feel sorry for those who paid iPad-like prices for the Playbooks though....ouch

I didn't! I got my 64gb PlayBook back in August last year for about $150...and there was a free leather sleeve included in the deal, on top of the neoprene one which comes standard in the box.

I think the PlayBook fell victim to a rushed launch and really subpar marketing...even today, over two years after its arrival on the market, the PlayBook is still better than for example the IPad Mini. Try multi tasking on the Mini...as if that is even possible...LOL...the unified message centre is still miles away better than what the Mini and it's larger version have to offer. Don't get me started on the sound which on the Mini is really pathetic.

Even if BB10 is not coming to the PlayBook, which is a bummer, BlackBerry could still send one or two more updates to the existing PlayBook OS, just to enhance, if nothing else, what is already there. The PlayBook got handed a rotten deal as it became a transition device, a link between BB7and BB10. Without the PlayBook, the BB10 OS would not exist.

Posted via CB10

Here's my analysis on this...

BlackBerry has had a history of pricing their devices. Though i feel the device is correctly priced in North America, in emerging markets and in Europe, its way too high. The Q10 is almost 1200.00 in India. Nearly double that of ours. For a company trying to make a comeback, this is unacceptable. Furthermore, empty promises.... When you say you're going to do something, DO IT. I cant help but think of these endless delays with the Z10 and Q10. Nearly 6 months over the expected date. The fact that only 8 million more users were lost is a shock to me.

PlayBook... That news is the nail for me. You have a loyal fan base who's out there supporting you at every turn. The PlayBook should have been updated with BB10 well before the launch of BB10 devices. When you sell 257,000 devices out of no where in a quarter, take notice that there are now NEW demands for that product. There are many reasons to abandon the PlayBook project. However, when you make promises of updates, YOU BETTER DELIVER!

Lastly, APPS... Well, brace yourselves, TeamBlackBerry... If you wanted Instagram, Netflix, Stopitfy, Snapchat and all the other TOP apps to come to BB10, this suuuurely isn't going to help. We BB10 users have become comfortable with the word "Sideload" and we better, cause right now we have no other choice. With this news, Q2 will without a doubt be a slaughterhouse. They would now need to push developers to BB10, launch the A10 well above their November project as well as open the Q5 and Z5 in A LOT more lower end markets. In short, BlackBerry has to push on the lost grounds. These numbers aren't what we expected. Furthermore, the analysts that have been bashing BB since before the launch of BB10 now have all they need to drive it to the grown. In the next coming months, anything positive done of BB will ultimately be futile.

I'm with BlackBerry till the day the doors close but this doesn't make it any less painful that that possibility of imminent demise is lurking just around the corner. Here's to this being the LAST of the bad news we have to endure.

-@BBMarnel

Sorry for all who were long the stock. I had a spread in place and it was a good day for my portfolio. Now that the stock is down so much I might actually get long.

BlackBerry is just getting started. PlayBook sucked from day one. Glad to see them get rid of that distraction.

Posted via CB10

It is bad but RIM still have a chance as long as they focus on the right things. As fans we should focus more on RIM's corporate governance and quality control processes. If RIM doesn't take the next couple quarters to solve the long time governance and product quality problems, then it would really go down. I believe RIM's board will take decisive measures to right its corporate governance and to eradicate root causes of quality problems. As soon as these are done BB 10 will fly to be the No.1 mobile computing platform because in term of technology it is the No.1 and the only truly mobile computing platform.

So, I call upon people here to have faith and in the mean time urge the board to make the necessary changes.

If you are a share holder. You should attend the share holder meeting or use other channel to give pressure to the board to solve the governance and product quality problems.

Lots of short covering going on today. The best lesson for investors is to begin to learn, and avoid, analysts that are pump and dump artists (Jefferies et al ) or just fronting for their hedge buddies. Their job is to pump the pps before earnings with bogus analysis so their buddies can cover their naked shorts. Often their articles twist sketchy info to suit their needs. On the other side of the outhouse called wall street are the bear raiders that flaunt their rule avoidance in front of a neutered SEC. The stock should not have dropped as far as it did based on the actual income/sales info. I think the playbook demise actually hurt them more as it brought back memories of an ineffectual mgt team. The market for super phones is also saturated so there is less play for outliers to make a move on the big two. It will bounce back a bit after the bloodletting is over so if your a confirmed seller right now you better give it a few days to shake out the weak kneed and let it lift a little

Maybe BlackBerry needs to rethink their marketing for the USA. Shifting more resources to the states would not be a bad idea. I highly respect Formula One but Americans generally have no idea what F1 is. I would have sponsored Nascar, Indy, NHRA etc. if you want to dabble in motorsports advertising. F1 is definitely in the elite class but as a driver I find it frustrating that no American driver since Eddie Cheever and Michael Andretti has stepped into an F1 car. I had my aspirations as a driver but landing a seat in F1 is a huge endeavour and American race drivers have tougher obstacles to get in. Almost like a political battle. Cannot explain here in short detail.

When I walked into my local AT&T store in Socal last March to pickup my Z10 I was really disappointed in that there was not even a simple indication in signage/banners and so on of the new platform. If I was the BlackBerry rep selling to that store I would have done a better job. Maybe the rep was constrained. Best Buy is some of the worst retail advertising for BlackBerry. There isn't any.

Bottom line BlackBerry needs to refocus their marketing efforts in the USA. We are the largest market.

Posted via CB10

The board must layoff The CEO, COO, CMO. Keep the CFO and the Chief Legal Officer. Quickly hire a new CEO who knows how to enforce accountability. The new CEO then should quickly reduce the head count further, fire those who made software, hardware, and service bugs and those who made the bad marketing decisions.

MS

the thought of another "house cleaning" has been occurring to me,,, Thor seems like a great guy, but he just isn't gettin' it done,,, he should've canned the marketing guy months ago & put the heat to the software people...

bb10 release 5 months ago....last year down 500M at this point. This year 80M at this point? The comeback begins...also, BBM cross plat and Q10 sales not in this report make for an interesting 2nd and 3rd Q.

"This is transition period" - a quota of RIM ceo from two years ago.

I guess RIM must replace not only the CxOs but also 50% of the entire workforce. Because Canada is short of qualified engineers, over the past 8 years RIM has picked up a lot bad managers and engineers, from waterloo streets, randomly by the HR. It is now the last chance to let them go before they sink the company.

MS

Heins will likely continue to say "transition period" until the company stops losing money. It's his phrase for softening the blow of touch news.

What BB needs are engineers who can work FASTER and refine the code faster to minimize bugs as well as crank out products FASTER. Being so slow to the smartphone market and all the time wasted was not good for them.

One thing I know is Social Apps can determine whether a phone will be a success or failure........Get the apps; instagram, vine , snapchat and any other great apps out there and the next quarter earnings will go through the roof

Bb should try to explore new ....markets or new planet
Like Mars
There is nothing left for it on on planet earth ....
It's history ..
It should ..really ..sell to some giant company ....instead of facing embarrassment every quarter.

It'd probably go a bit better if they'd actually start releasing their new phones on more markets. Neither the Z10 nor the Q10 have been released here in Sweden. You can't pick it up in any store - it's not even on display. No advertisement, no nothing. :/

Remember this the first quarter results! the Q10 hadn't been launched yet and the Z10 had been out for about 20 days. I am pissed though about no Playbook update to BB10!

Patience...don't gamble with money you can't miss for a longer period. I'm long in BBRY and that's what it means, long. In the past wise people told me that you buy a stock and put it under your pillow for a while, then look at it again, put it under pillow again. A mistake, imo, BB made, was pricing the Z10 and Q10 a bit too high. Secondly but an important note that BB has risen from the dead the last 6 months so i'm surely gonna give them more time. I'm staying long.

BlackBerry stock is very volatile. The results today, while they could have been better is indicative of a company that's on the rebound. Look back at 12 months ago and you'll see. There are a lot of people betting on the demise of blackberry and there in lies the problem. A lot of people made some big bucks today. But this kind of up and down swinging on every bit of news isn't normal. My guess is the stock should be somewhere around 17 dollars. I'm holding. Though it would have been nice to turn a profit the first year after major restructuring, realistically it should take them at least 2 years to get things in order. What most of us were expecting (hoping for) myself included was bordering on the miraculous. But the fundamentals of the company are still sound.

Jamaican me crazy bout my z10. Respect

The whole stock market is volatile. As long as the feds keep pumping money you know that this is a giant bubble. This may seem fine for some for awhile. I am fairly satisfied that my portfolio is diverse and I have good amount of blue chips for the long run. The others are for the short play. As the interest rates rise hopefully my cash will see a little blip:)

Posted via CB10

In behalf of all of us in Venezuela, our goverment policy of currency restriction sucks and we're sorry Mr. Heins and CrackBerry nation. But seeing my country there in the press release shows how important in Latin America is Venezuelan market to BlackBerry and I hope things get better the next quarter :)

BNN reported yesterday that BlackBerry (RIM) said that 600,000 BB10 users left BlackBerry over the last month or two and that BlackBerry is no longer providing any number to the press and it's investors as to how many users they have currently. This is a very negative. Lucky for BBRY the world stock markets aren't open at 7AM EST or I am sure their stock would fall completely off the TSE, not to say it sill won't when the markets reopen on Monday in places of the world that don't celebrate Canada day!

I live here in Venezuela, for almost 10mill of smartphones used here 7mill are from BlackBerry platform, Z10 has been sold out in our carriers, mine z10 that I love ;) from digitel Venezuela, the BlackBerry smartphone are the best selling phone here, BlackBerry 7 and now blackberry 10 , the problem here is that Venezuela is a block currency country, and every business here has to wait a long time to get Dollars o get it in the black market, but the problem for BlackBerry is not Venezuela itself, is the American market, that has to be the priority for BlackBerry, and we have seen several problems to compete with android and ios, here in Venezuela was one of the first country's in get the 10.1 update in z10, the venezuelans people are loyal to BlackBerry, but they need to work more in biggest country like USA, they have a extraordinary new platform with BlackBerry 10 , and I think that for 2014 that will have a very good year if fix his marketing strategy. And of course continue to improve the BlackBerry 10

What goes down eventually goes up! I have faith in the BlackBerry company. As they are on the right track and still recovering from their handset hiatus. The green lines did drop but eventually the green lines will rise again!

Posted via CB10

Hello from Massachusetts . Blackberry was out before iPhone . Don't worry have no fear they are not going to fail

Cant help, but perhaps it was to late to turn around the oars... Thorsten Heins is just an average German- and not every german guy its given to be a leader with the capability to change the history... (Thank god!) :-) The cart of BlackBerry seems to be too deep into the mud... and The OS10 is to indifferent and anemic to be the more desired shire horse which could pull the cart...