
BlackBerry posts third quarter loss of $4.4 billion
BlackBerry is reporting a massive $4.4 billion loss in the third quarter and 56% drop in revenue.
The results are the Blackberry's first under new chairman and interim chief executive John Chen.
Sales are plummeting, with third quarter revenues of just $1.2 billion. BlackBerry attributed the extent of the quarterly loss to a $4.6 billion charge for an inventory write-down and other one-time costs.
BlackBerry also announced it is entering in to a five-year partnership with Foxconn, the world's largest manufacturer of electronic products. Foxconn will jointly develop and manufacture certain new BlackBerry devices and manage the inventory of them.
BlackBerry reported revenue of $1.2 billion, down 56% in the same quarter last year.
Its adjusted loss from continuing operations was $354 million, or 67 cents per share. Analysts polled by FactSet, on average, expect a loss of 43 cents per share on revenue of $1.66 billion.
Chen has said the company "is very much alive" but is putting more emphasis on Blackberry's software business than its failed hardware business.

Sensex rebounds over 270 points in early trade; Nifty reclaims 15,000-level

Gold price recovers from 9-month low: Here's why

How govt plans to push health spending to target of GDP’s 2%
- Despite decades of strong economic growth, the country’s spending on health care is barely 1% of GDP, way below Brics peer nations, resulting in serious supply-side deficits of facilities and professionals.

Birla Sun Life plans to raise ₹5,000 crore via share sale
- Aditya Birla Sun Life Asset Management has started talks with potential merchant bankers for the IPO, which is likely to be launched in the June quarter, said the people cited above.

Ola aspires to pull off a Tesla, but affordably
- The Bengaluru-based firm plans to start production as early as in June. That’s audacious, given that the land—260 acres for the plant and 240 acres for two supplier parks—is still in excavation mode.

Zostel claims victory in legal row with OYO
- The term sheet executed between the two parties in 2015, promised ZO Rooms’ shareholders 7% of Oyo.

Suitors make a beeline for 26% stake in BEML
- Bharat Forge Ltd and Megha Engineering and Infrastructure Ltd may also submit expressions of interest for the government’s stake in BEML, the people said on condition of anonymity.

Biz confidence at India Inc soars to 10-year high
- The survey captures the mood of the industry for the two quarters ending June 30, 2021.

Junk your old car, get 5% rebate from automakers on new purchase: Gadkari

Gold prices down over 20% from highs. Should you invest?

RBI: India Inc's overseas direct investment falls by 31% to USD 1.85 billion

OPEC+ surprise sees oil soar past Gulf’s budget-balancing Levels

Elon Musk’s historic wealth gains unravel with $27 billion loss

How to check PF balance without Universal Account Number
- For checking EPF balance without UAN number, users will need to log into their account through the EPF homepage at epfindia.gov.in.
