UPDATE: BlackBerry Posts Q1 Loss

BlackBerry

posted a loss in the first quarter. BlackBerry posted a quarterly loss of $84 million, or $0.16 per share, versus a year-ago loss of $518 million, or $0.99 per share. Its loss from continuing operations came in at $84 million, while its adjusted loss from continuing operations was $67 million, or $0.13 per share. BlackBerry's revenue surged to $3.07 billion from $2.81 billion. However, analysts were projecting adjusted earnings of $0.07 per share on revenue of $3.38 billion. BlackBerry shipped 6.8 million smartphones in the first quarter. BlackBerry shares tumbled 16.09% to $12.15 in pre-market trading.