"BlackBerry sees cash flow this year dry - Telecompaper

Ahead of the presentation of the results for the third fiscal quarter, BlackBerry’s CEO John Chen states that the beleaguered Canadian company is no longer for sale and is still alive. Analysts expect according to the Wall Street Journal, however, that all quarterly results show a deterioration and that the cash flow of the company can be in light of the mounting losses.

dried up by the end of the year

BlackBerry showed by the mouth of Chen in early December that the number of large businesses and governments that its services and solutions used has increased by 20 percent. recent months According to Chen’s BlackBerry to focus on its core business services. Despite the optimism of Chen many analysts believe that his options are very limited. Stopping the shrinking smartphone activities might be in the short term too expensive. The proportion BlackBerry since the election of Chen beginning November 22 percentage dropped to $ 6.08.

early November it was announced that an investor would not get FairFax. acquisition of all outstanding shares of BlackBerry around Then CEO Thorsten Heins was shown the door. He was succeeded by interim CEO John Chen. According to the Wall Street Journal also go Rick Costanzo, executive vice president for global sales, and mergers and acquisitions head Chris Wormald early next year away. In addition, BlackBerry last month took leave of Frank Boulben – Chief Marketing Officer, CFO Brian Bidulka and Kristian Tear – Chief Operating Officer

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BlackBerry’s revenue from services is becoming increasingly important as the company’s revenue from hardware, smartphones and tablets, saw quite a plummet in recent years. BlackBerry launched early this year with its new BlackBerry 10 platform, along with two new smartphones. Despite a new operating system and new BlackBerry devices did not break the negative spiral. The market share of the BlackBerry market share dropped from 5.2 percent to 1.8 percent in Q3, according to recent figures from Gartner.

BlackBerry realized on its second fiscal quarter of 2014 to $ 1.6 billion in sales (-44.8%), compared with $ 2.9 billion in the same quarter a year earlier. BlackBerry also had to collect a loss of $ 248 million. In the first fiscal quarter of 2014 BlackBerry realized a turnover of $ 3.1 billion to a net loss of $ 67 million. BlackBerry suffered an operating loss of $ 965 million primarily due to a write-down of $ 934 million recorded in large stocks of unsold Z10 BlackBerry smartphones. There were pre-tax restructuring charges of 72 million dollars.