BlackBerry loss deepens in Q2

Investor's Business Daily

The troubled Canadian smartphone maker continues to lose money, reporting a 47-cent per share Q2 loss, worse than its 27-cent loss a year ago but 2 cents better than expected. Revenue slid 45% to $1.57 bil, less than the expected $1.62 bil. BlackBerry (BBRY) said it's initiated another round of "major changes to address the competitive hardware environment and our cost structure." The company had announced Mon. that Fairfax Fin'l Holdings is making a tentative $4.7 bil offer for the company. Shares rose 1% to 8.03.

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