BlackBerry Shares Fall As Sales Fell Short
Friday saw BlackBerry shares fall as sales fell short, even though they announced order numbers that exceeded expectations for the new BlackBerry Passport and also losses were slashed. BlackBerry lost $148 million (about £95 million) for the 3 months up to November 29th, which was a major turnaround from the $4.4 billion loss for the same period 12 months prior. Even though this was good news for the company sales were $793m which feel considerably short of the predicted $927.8m which is lower than for 2013.
Share prices dropped 5% to $9.57 in New York, which left BlackBerry with a valuation of $5 billion. The stock has risen more than 25% this year as fears that BlackBerry could go under abated. BlackBerry released the Classic last week, which is basically the BlackBerry Bold in a different case and they are hoping its customers will embrace the Classic.