Perhaps Parmy Olson of Forbes put it best today: BlackBerry’s attempted turnaround is starting to look like a "bad horror movie."
On Friday, the embattled Canadian smartphone maker reported an unexpected loss of $85 million for the quarter ending June 1. As a natural consequent, shares quickly slid 25% to $10.80 today.
The downward momentum of today's sell-off was strong enough to completely erase all gains the company's stock had made this year following the BlackBerry 10 launch.
The company shipped 6.8 million smartphones in the quarter, of which 2.7 million were powered by its new BlackBerry 10 software platform. Analysts had been expecting total shipments of 75 million and 3.6 million BB10 units....
Nonetheless, executives for BlackBerry attempted to sound undeterred by the dismal report.
"During the first quarter, we continued to focus our efforts on the global roll out of the BlackBerry 10 platform," CEO Thorsten Heins said. "We are still in the early stages of this launch, but already, the BlackBerry 10 platform and BlackBerry Enterprise Service 10 are proving themselves to customers to be very secure, flexible and dynamic mobile computing solutions."