UPDATE 15:22 EST: Blackberry Ltd (NASDAQ:BBRY) announced that it was taking a pretax charge of $930-$960 million on its next quarterly earnings. The charge is due to a write down on the company’s inventory of BB10 smart phones, with the Z10 causing the most damage.The company expects to lose between 47 and 51 cents per share in the coming quarter. The company also announced that it was going to lay off around 4,500 employees. That’s about 40% of the company’s entire workforce. An earlier version of this article appears below. Trading of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) shares have been halted…
This content is exclusively for paying members of Hedge Fund Alpha
Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha
Don’t have an account?
Subscribe now and get 7 days free!
