BlackBerry Forecasts Q2 Loss, Plans 4,500 Job Reduction - Quick Facts

(RTTNews) - BlackBerry Ltd. (BBRY) Friday said it expects to report a loss of approximately $950 million to $995 million, or $1.81 to $1.90 per share, for the second quarter.

Adjusted loss is currently expected to range between $250 million and $265 million, or $0.47 to $0.51 per share. Analysts polled by Thomson Reuters currently expect the company to report a loss of $0.15 per share for the quarter. Analysts' estimates typically exclude special items.

Second-quarter revenues are projected at approximately $1.6 billion, with service revenues representing about 50 percent of total revenues. During the second quarter, the company recorded smartphone sales of approximately $3.7 million. Analysts currently expect second-quarter revenues of $3.06 billion.

As part of its restructuring plans, Blackberry said it is planning to reduce approximately 4,500 employees, targeting reduction of operating expenses by approximately 50 percent by end of the first quarter of 2015.