BlackBerry reports huge loss on writedown, impairment charges

[Sakon Shima]

BlackBerry reports huge loss on writedown, impairment charges

Reuters
December 20, 2013, 11:15 pm

A Blackberry smartphone is displayed in this August 12, 2010 illustrative photo taken in Hong Kong. REUTERS/Bobby Yip

TORONTO (Reuters) - Smartphone maker BlackBerry LtdTO> reported a massive quarterly loss on Friday due to an inventory writedown 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)