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BlackBerry CEO Says Worst Is Over After Posting Wider Loss

  • Revenue plummeted but will now start growing, CEO Chen said
  • Shares fall as quarterly phone shipments slump to 800,000
Bloomberg business news

Blackberry CEO Sees Revenue 'Uptick' Next Two Quarters

Updated on

BlackBerry Ltd. Chief Executive Officer John Chen said the company has found the low-point of its turnaround after second-quarter revenue plummeted and smartphone shipments hit their lowest since at least 2007.

The shares slumped as much as 8.1 percent after the Waterloo, Ontario-based company reported a wider loss than analysts anticipated in the period ended Aug. 29.