BlackBerry Reports Huge Loss On Writedown, Impairment Charges

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BlackBerry
File of a Canadian flag waving in front of a BlackBerry logo at the Blackberry campus in Waterloo.

TORONTO (Reuters) - Smartphone maker BlackBerry Ltd reported a massive quarterly loss on Friday due to an inventory write-down and asset impairment charges.

The company, which abandoned an attempt to sell itself last month, reported a net loss of $4.4 billion, or $8.37 a share, in the third quarter ended November 30. That compared with net income of $9 million, or 2 cents a share, a year earlier.

Excluding one-time items, the company reported a loss of $354 million, or 67 cents a share.

(Reporting by Euan Rocha and Alastair Sharp; Editing by Lisa Von Ahn)

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