- Taking in BlackBerry's (BBRY -17%) big FQ2 warning, in which the company says it ended the quarter with $2.6B in cash/investments, Baird's William Power estimates the company lost $1/share in cash during the quarter.
- Meanwhile, BlackBerry's decision to focus on enterprises and "prosumers" going forward with a portfolio of 4 smartphones is raising eyebrows. Particularly since a large portion of the 72M subs the company had at the end of FQ1 were consumers in emerging markets; competition from low-end Android devices targeting those markets has been fierce.
- Some other details: 1) FQ2 non-GAAP EPS, which excludes the inventory write-down, is expected to be in a range of -$0.47 to -$0.51 (consensus is at -$0.15). 2) Half of all FQ2 revenue (pegged at $1.6B) is expected to come from services; only 26% of FQ1 revenue ($3.1B) came from services. 3) With the launch of the Z30, BlackBerry will "re-tier" the Z10 "to make it available to a broader, entry-level audience." 4) BES 10 server installations have passed 25K.
at CNBC.com (Tue, 11:15AM)