BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) said in a press release that the company will report its fiscal fourth quarter ending March 1 and full-year 2014 results on Friday, March 28. The company will release its report at 8:00 AM ET. Interested investors and analysts can access the call by dialing 1-800-814-4859 or by visiting this link through their BlackBerry devices.
BlackBerry on a job-cutting spree
Shares of the Canadian smartphone and software company have gained more than 50% over the past three months. Investors are excited about this earnings announcement as they are betting on John Chen’s leadership, who has vowed to make BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) profitable by 2016. Investors will be watching closely whether he is on track to achieve his goal.
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) is unlikely to surprise in the fourth quarter. Analysts expect the company to remain in red amid the turnaround efforts. Yesterday, the Waterloo-based company announced plans to cut 120 more jobs in Waterloo. The company said the layoffs will affect its product development and wireless technology units. The job cut is a part of the company’s plan to slash expenses, mainly by reducing its workforce by about 40%.
BlackBerry unlikely to show big surprises ahead of Z3 launch
Last week, BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) also sold its U.S. headquarters in Irving, Texas to Brookfield Property Group. The Canadian smartphone maker purchased the 460,000-square-foot property in 2009. The company will lease back 37% of the property to maintain its operations in Irving. Though job cuts and real estate sales may help the company improve its cash position, they are unlikely to significantly change investor perception. Investors are expecting a blockbuster product from BlackBerry in the not too distant future.
The recently announced Z3 smartphone will be launched next month. And the QWERTY keypad-equipped Q20 is likely to release by the end of this year. Therefore, the only new developments we are likely to see this quarter are some more inventory write-offs.
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) shares were up 0.87% to $9.25 as of 10:31 AM EDT.