Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Canadian smartphone maker posts $6 million non-GAAP profit, sells 1.9 million devices.
BlackBerry on Friday posted a significant improvement in earnings for the three months to 30 November, but revenue fell sharply.
The Canadian smartphone maker reported non-GAAP earnings of US$6 million, or $0.01 per share, compared to a loss of $0.02 per share in the previous quarter. It also posted positive fiscal third quarter cash flow of $43 million, compared to negative $36 million in fiscal Q2.
Meanwhile, BlackBerry’s operating loss narrowed to $139 million from $198 million sequentially, and from $5 billion a year earlier. BlackBerry’s net loss came in a $148 million, a significant improvement on the $4.4 billion net loss notched up in Q3 2013.
“We achieved a key milestone in our eight quarter plan with positive cash flow. We also attained another important milestone in the release of our new enterprise software products and devices,” said BlackBerry CEO John Chen, referring to the recent launch of BES12. Original post at Total Telecom