BlackBerry's Latest Loss Is Like a Zombie Movie

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Dec. 20 (Bloomberg) -- BlackBerry struck a five-year deal with Foxconn to manufacture its devices, following another quarterly plunge in sales and mounting losses. Julie Hyman reports on Bloomberg Television's "In The Loop." (Source: Bloomberg)

You know what is going to happen but it continues -- you are still scared.

We were talking about this this morning, that you know it is going to be bad but yet somehow you are surprised just how bad it is.

Let's talk about the various metrics we are looking at.

When you look at the loss from continuing operations, worse than analysts anticipated.

A big drop in revenue of more than 50%. that is worse than what analysts have been anticipating.

If you look at the revenue recognized from smartphones -- the company sells a certain number of smartphones in the quarter, but some of them, even though they are delivered in the quarter, maybe they were ordered before.

If you look at the revenue realized from the actual sales that were recognized in the quarter, we are looking at 1.9 million smartphones.

3.7 million smartphones was the prior quarter.

Yes, other smartphone makers when they had introductions of new devices you get a little bit of it quarter to quarter.

But that is a pretty big of.

-- big bump.

The pattern portfolio, thought to be worth as much as $3 billion -- a key asset for black very.

A talk that microsoft or somebody was interested in the patent, then wrote down the value, a couple of billion dollars.

This was supposed to be the store of value.

The patents and blackberry messenger.

So, if you were looking at a lower value for the patent portfolio, obviously it does present a problem for the company.

And then you look at the foxconn partnership as well and you have to wonder how much value is going to come from that.

The partnership designed to target new phones in the indonesian market.

It is hard to see where help comes from at this point.

This was supposed to be the year of change for blackberry and it just starts spiraling since the beginning.

Thank you so much.

Julie hyman, senior markets correspondent.

Matt miller, it is day 10 of bloomberg television's 12 days of bitcoin.

Matt has been a great job telling us everything we need to know about it going.

Today we are talking about bitcoin mining.

It is a complicated computational process.

It is, but it is really the key to so much of the bitcoin network, the bitcoin movement.

You've got an open source currency here, right?

So, all of the different people in the network are responsible in some way for controlling the process, verifying the transactions, for basically keeping the ledger in order.

But you can't have everyone controlling the ledger at the same time.

Otherwise things would get crazy.

So they basically devised this

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