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BlackBerry Cancels Call to Discuss its Quarterly Earnings

by Jacob Kleinman | September 26, 2013September 26, 2013 7:30 am PDT

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BlackBerry cancelled a call scheduled for Friday where it had planned to discuss its most recent fiscal quarter with media and industry analysts, the New York Times reports. The company also noted that the regular statement on its financial situation will be delayed a week, due to a likely buyout from Fairfax Financial Holdings.

Last week the Canadian smartphone maker released a statement predicting a quarterly loss of about $1 billion as well as disappointing revenue. Soon, afterward, Fairfax, which currently owns 10 percent of BlackBerry’s shares, signed a document stating it would be willing to buy the company and take it private for $9 per share in a potential $4.7 billion deal.

With Fairfax’s offer still not finalized, the company could easily walk away from BlackBerry at no cost. Under these circumstances, it makes sense that the struggling tech company would hide its latest disappointing fiscal quarter until a buyout is insured, but hiding the information will only increase suspicions that BlackBerry may be beyond repair at this point.

NYTimes

Jacob Kleinman

Jacob Kleinman has been working as a journalist online and in print since he arrived at Wesleyan University in 2007. After graduating, he took a...

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