BlackBerry Reports Third-quarter Loss of $4.4 Billion, Worse Than Analysts Expected

Today BlackBerry reported a $4.4 billion third-quarter loss, falling short of analyst expectations.

The company’s stock rose 12% on the news.

BlackBerry says that 75% of devices sold during the quarter were legacy devices running BlackBerry OS 7.


SEE ALSO: Key Executives Leaving BlackBerry


The company burned through $400 million cash for its operations but still managed to increase its cash holdings to $3.2 billion, largely thanks to the $1 billion it raised from Fairfax Financial in November.

Revenue for the quarter was $1.2 billion, down 56% from the same quarter last year.


RELATED: BlackBerry Lays Off More Employees in Canada


On a positive note, BBM has gained a whopping 40 million new users since the app launched on iPhone and Android.