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COVERIT/TELECOM

BlackBerry Quarterly Earnings Dip by 46.5%

Canadian Smartphone maker, BlackBerry Ltd posted weaker-than-expected quarterly results over the weekend.

Revenue plunged 46.5 per cent to $490 million, well below the analysts’ average estimate of $610.6 million.

Net income was $51 million, compared with $68 million in the prior quarter and a year-earlier loss of $207 million.

The company however forecasted higher revenue and said it might replace its operating system with Google Inc’s Android platform.

The Ontario-based company, which is pursuing a turnaround plan based on selling more software, said it expected modest revenue growth in the remaining two quarters of this fiscal year, after nine quarters of falling sales, and a return to profitability in the fourth quarter.

It also confirmed widely expected plans to launch an Android smartphone later in 2015.

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