Blackberry posts first quarter loss

Technology company Research in Motion (which does business as Blackberry) has published reports for the first quarter of 2013, announcing a first quarter loss (release).

The firm announced a GAAP loss from continuing operations of $84m, following GAAP income of $94m in the previous quarter. By another measure, adjusted loss from continuing operations, the company saw a loss of $67m in the first quarter.

The smartphone market remains highly competitive, making it difficult to estimate units, revenue and levels of profitability. Throughout the remainder of fiscal 2014, the Company will invest in BlackBerry 10 smartphone launches, and the roll out of BlackBerry Enterprise Service 10, to continue to establish the new BlackBerry 10 platform in the marketplace.

Thorsten Heins, president and CEO:

During the first quarter, we continued to focus our efforts on the global roll out of the BlackBerry 10 platform.