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Blackberry will announce earnings to nervous investors

Blackberry, once the leading smartphone for business, is falling behind its mobile competitors.
By Aileen Graef   |   March 28, 2014 at 9:59 AM   |   Comments

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March 28 (UPI) -- Investors are bracing themselves for substantial losses as Blackberry reveals its earnings Friday.

The company has taken deep market share cuts in handsets. Apple's iOS and Android continue to edge Blackberry out as they dominate the smartphone market.

Blackberry has taken measures to pad the losses and reduce exposure. They have entered into a 5-year deal with Foxconn, restructuring operations, and turning some of the red to black by selling real estate in the U.S. and Canada.

Analysts, taking the cost-cutting measures into account, expect a return of $0.57 a share and $1.1 billion in revenue, a 59 percent change from last year. Recently the stock was trading just south of $10 a share.

[The Street]

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