WATERLOO, Ont. – BlackBerry Ltd. reports it had a staggering US$4.4-billion net loss from continuing operations in its latest quarter.
The struggling smartphone company’s revenue was below expectations at US$1.2 billion, down 56 per cent in the same quarter last year.
And its adjusted loss from continuing operations was US$354 million, or 67 cents per share — also 23 cents below analyst estimates.
Analysts expected BlackBerry adjusted loss would be 44 cents per share and its revenue would be about $400 million higher at US$1.6 billion.
As recently as last quarter, analysts were still talking about BlackBerry’s cash flow and its nice little nest egg. But they lost about as much money this quarter