BlackBerry has reported a net loss of $965 million for the second quarter ended August 31, 2013. In addition, the company has reported a 49 per cent decline in its revenue from $3.1 for the quarter ended August 2012 to $1.6 billion for the corresponding quarter in 2013.
BlackBerry?s hardware business accounted for 49 per cent of its revenue share followed by the service (46 per cent) and software business (5 per cent). According to the company, during the quarter under review, it sold about 5.9 million BlackBerry smartphones. Further, the generally accepted accounting principles (GAAP) for the second quarter ended August 31, 2013, stood at $965 million. The GAAP loss comprised primarily of non-cash, pre-tax charge against inventory and supply commitments of about $934 million i.e. the inventory charges for BlackBerry?s Z10 device.
Earlier, BlackBerry signed an agreement with Toronto-based Fairfax Financial Holdings Limited. As part of the deal, the latter will acquire the loss-making smartphone manufacturer for $4.7 billion.
