BlackBerry Ltd reported a bigger-than-expected second-quarter loss on Friday, as revenue from its once-iconic smartphone slid further, sending shares down nearly 4 percent in premarket trading.
The Waterloo, Ontario-based company said it expects "modest" sequential revenue growth in the remaining two quarters of this fiscal year and a return to profitability in the fourth quarter.
Excluding one-time items like a non-cash credit tied to the value of debentures and restructuring charges, the Waterloo, Ontario-based company reported a quarterly loss of $66 million, or 13 cents a share.
Revenue fell 46.5 percent to $490 million in the quarter, well below the average expectation of $610.6 million.