The Decrease in BlackBerry Revenue Worries Investors

2012 Consumer Electronics Show Showcases Latest Technology InnovationsShares of BlackBerry lost 5.96% to US $ 9.47 on the opening of US OTC market on Friday, December 19.

In the third quarter (ended November 29), the company reported adjusted earnings of $0.01, while analysts expected a loss of US $0.05, according to Bloomberg. BlackBerry also generated positive cash flow one quarter earlier than it had planned.

The net loss of $148 million compared to $4.4 billion in the same period last year.

Nevertheless, the decline of 13% in revenues to $793 million sowed concern about the popularity of the company’s products. Analysts expected a profit of around $931 million.

“We have taken an important step in our recovery plan,” said John Chen, the CEO in a statement. Our goal now is to expand our distribution network and revenue growth.”

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