- BlackBerry (BBRY) expects to report FQ2 (Aug. quarter) revenue of $1.6B, far below a $3.06B consensus. The company also expects to report a GAAP op. loss of $950M-$995M, thanks largely to an inventory charge of $930M-$960M.
- FQ2 smartphone shipments are pegged at 3.7M (mostly BB7 devices, due to BB10 channel inventories), down sharply from FQ1's 6.8M. FQ2 device sell-through is estimated to be 5.9M.
- The company is cutting 4.5K jobs, or approximately 40% of its workforce. It's looking to lower opex by 50% by the end of FY15 (ends Feb. '15). The WSJ recently reported major job cuts were pending.
- BlackBerry's smartphone portfolio will go from 6 devices to 4 (two high-end, two entry-level). The company will focus on the enterprise and "prosumer" markets going forward.
- Strategic alternatives are still being evaluated. Full FQ2 results arrive on Sep. 27.
- Shares remain halted.
From other sites
Video at CNBC.com (Jun 2, 2015)
Video at CNBC.com (May 26, 2015)
at CNBC.com (May 24, 2015)
at CNBC.com (May 7, 2015)
at CNBC.com (Mar 27, 2015)
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