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12-20-2013, 11:41 PM
Why BlackBerry Stock Is Soaring After a $4.4 Billion Net Loss
http://rack.2.mshcdn.com/media/ZgkyMDEzLzEyLzIwL2RmL2JicnkxLmJjMzU0LmpwZwpwCXRodW 1iCTU3NXgzMjMjCmUJanBn/63902786/42c/bbry1.jpghttp://rack.3.mshcdn.com/assets/feed-tw-df3e816c4e85a109d6e247013aed8d66.jpg (http://twitter.com/share?via=Mashable&text=Why+BlackBerry+Stock+Is+Soaring+After+a+%244. 4+Billion+Net+Loss&src=http%3A%2F%2Fmashable.com%2F2013%2F12%2F20%2Fb lackberry-hits-rock-bottom%2F%3Futm_campaign%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_cid%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_medium%3Dfeed%26utm_source%3Drss)htt p://rack.1.mshcdn.com/assets/feed-fb-fdab25e3700868c9621fb03b7fd07c38.jpg (http://www.facebook.com/sharer.php?u=http%3A%2F%2Fmashable.com%2F2013%2F12 %2F20%2Fblackberry-hits-rock-bottom%2F%3Futm_campaign%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_cid%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_medium%3Dfeed%26utm_source%3Drss&src=sp)
Everyone knew BlackBerry's earnings report (http://mashable.com/2013/12/20/blackberry-foxconn/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss) on Friday would be bad, but **t this bad.
BlackBerry's revenue in the third quarter fell by more than 50% from the same period a year earlier. The company's net loss for the quarter topped $4 billion due to restructuring costs and unsold devices. Yes, billion with a "b." And it barely sold more than 1 million BB10 devices, proving once more that its make-or-break smartphone product line is broken.
So, naturally, Wall Street reacted by dumping the stock and burning effigies of Alicia Keys (http://mashable.com/2013/01/30/blackberry-alicia-keys/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), right? **t quite
After initially declining by as much as 7% in pre-market trading Friday, BlackBerry's stock rebounded and was actually up by more than 15% at one point in morning trading. As of this writing, the stock is still up more than 13%. If that makes your brain hurt, you're certainly **t alone. Read more... (http://mashable.com/2013/12/20/blackberry-hits-rock-bottom/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss)
More about Blackberry (http://mashable.com/category/blackberry/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), Stocks (http://mashable.com/category/stocks/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), and Business (http://mashable.com/business/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss)http://feeds.feedburner.com/~r/Mashable/~4/FRFYVi64Og8
http://rack.2.mshcdn.com/media/ZgkyMDEzLzEyLzIwL2RmL2JicnkxLmJjMzU0LmpwZwpwCXRodW 1iCTU3NXgzMjMjCmUJanBn/63902786/42c/bbry1.jpghttp://rack.3.mshcdn.com/assets/feed-tw-df3e816c4e85a109d6e247013aed8d66.jpg (http://twitter.com/share?via=Mashable&text=Why+BlackBerry+Stock+Is+Soaring+After+a+%244. 4+Billion+Net+Loss&src=http%3A%2F%2Fmashable.com%2F2013%2F12%2F20%2Fb lackberry-hits-rock-bottom%2F%3Futm_campaign%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_cid%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_medium%3Dfeed%26utm_source%3Drss)htt p://rack.1.mshcdn.com/assets/feed-fb-fdab25e3700868c9621fb03b7fd07c38.jpg (http://www.facebook.com/sharer.php?u=http%3A%2F%2Fmashable.com%2F2013%2F12 %2F20%2Fblackberry-hits-rock-bottom%2F%3Futm_campaign%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_cid%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_medium%3Dfeed%26utm_source%3Drss&src=sp)
Everyone knew BlackBerry's earnings report (http://mashable.com/2013/12/20/blackberry-foxconn/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss) on Friday would be bad, but **t this bad.
BlackBerry's revenue in the third quarter fell by more than 50% from the same period a year earlier. The company's net loss for the quarter topped $4 billion due to restructuring costs and unsold devices. Yes, billion with a "b." And it barely sold more than 1 million BB10 devices, proving once more that its make-or-break smartphone product line is broken.
So, naturally, Wall Street reacted by dumping the stock and burning effigies of Alicia Keys (http://mashable.com/2013/01/30/blackberry-alicia-keys/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), right? **t quite
After initially declining by as much as 7% in pre-market trading Friday, BlackBerry's stock rebounded and was actually up by more than 15% at one point in morning trading. As of this writing, the stock is still up more than 13%. If that makes your brain hurt, you're certainly **t alone. Read more... (http://mashable.com/2013/12/20/blackberry-hits-rock-bottom/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss)
More about Blackberry (http://mashable.com/category/blackberry/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), Stocks (http://mashable.com/category/stocks/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss), and Business (http://mashable.com/business/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial&utm_medium=feed&utm_source=rss)http://feeds.feedburner.com/~r/Mashable/~4/FRFYVi64Og8