BlackBerry Decides Not to Hold Earnings Call, After All
BlackBerry on Wednesday said that it will not hold this week’s earnings call, despite having previously indicated it would do so.
“In light of the letter of intent agreement between BlackBerry and Fairfax Financial Holdings Limited that was signed and announced on Monday, September 23, BlackBerry has cancelled its second quarter earnings conference call and webcast that had previously been scheduled for Friday, September 27 at 8:00 a.m.,” the Canadian phone maker said in a statement. That non-binding agreement calls for Fairfax to pay $4.7 billion for BlackBerry.
BlackBerry said it will release its quarterly results on Friday morning, with further details and financial statements to come next week.
Investors already know the results will be gruesome.
The company warned last week that it would post results far below estimates, saying that revenue was about $1.6 billion, or just over half of what analysts had been expecting. Its quarterly loss could approach $1 billion, including a massive inventory charge, as well as restructuring charges.
T-Mobile said on Wednesday that it will no longer stock BlackBerry inventory in some of its stores, instead offering them for order either online or through retail outlets.