Quick Take: Short-Sellers Were Right About BlackBerry
While analysts were looking for earnings of about 8 cents per share, BlackBerry reported a loss of 13 cents per share.
On top of that, BlackBerry missed revenue estimates by nearly 10%, and Borchardt said the company also missed on nearly every other metric, including unit sales and subscribers -- which declined over the quarter.
The company did not provide unit sales. This is different from companies such as Apple
Rogers said that with restructuring efforts going on in the background and the recent management shakeup, BlackBerry's turnaround looks like it will take longer than most had originally thought.
The company is also putting its tablet on the backburner, since management doesn't think "there's going to be a tablet market five years from now," Borchardt said. She added that the market didn't seem too convinced of this new thesis.
Rogers wasn't either, saying that it was "nonsense," and pointed to Apple's continued success in the area.
He concluded that he would stay on the sidelines for BlackBerry, citing too many unknowns for the company at this time.
-- Written by Bret Kenwell in Petoskey, Mich. .