BlackBerry Maker Research In Motion's Shares Fall 20% After Company Posts Loss When Market Had Expected Profit

 @gmorcroftg.morcroft@ibtimes.com
on June 28 2013 7:55 AM

Research In Motion Inc. (NASDAQ:BBRY), maker of the BlackBerry smartphone, lost $84 million, or 16 cents a share, in its fiscal fourth quarter, the company said on Friday, missing analyst estimates and triggering an almost 20 percent selloff of shares.

The results were an improvement over the $518 million, or 99 cents a share, loss it reported a year ago.

Research in Motion said that on an adjusted basis, it had a loss of $67 million, or 13 cents a share. That number excluded some special and one-time charges.

Revenue during the quarter was $3.07 billion, compared to $2.81 billion a year ago.

Analysts had expected the company to post an operating profit for the quarter, as well as higher revenue.

Research in Motion shares fell almost 20 percent in pre-market trading. 

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