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Blackberry posts wider-than-expected second-quarter loss

Michele Maatouk

LONDON (ShareCast) - (ShareCast News) - Canadian smartphone maker Blackberry (Swiss: BB.SW - news) posted a wider-than-expected loss for the second quarter as it confirmed plans to launch an Android device. For the three months ended 29 August, the company reported a loss of $66m on an adjusted basis, or $0.13 a share , as revenue fell 46.5% to $490m. Analysts had been expecting Blackberry to post a loss of $0.09 a share and revenue of around $610m.

Software (Xetra: 330400 - news) and services revenue rose to $74m from $62m a year ago, but dropped 46% from $137m in the first quarter.

"I am confident in our strategy and continued progress, highlighted by our fourth consecutive quarter of year-over-year double digit growth in software licensing revenue and sixth consecutive quarter of positive free cash flow," said executive chairman and chief executive officer John Chen.

"In order to expand our leadership in cross-platform software and services, we are investing strategically - organically through new products and services based on the BES platform, and through acquisitions like AtHoc and Good." In addition, the company confirmed plans to launch an Android device named Priv, which is a departure from its usual strategy of employing its own software.

Chen said: "Priv combines the best of BlackBerry security and productivity with the expansive mobile application ecosystem available on the Android platform."