Blackberry loses $207 million

blackberry-juicerThere’s still a way to go for Blackberry even though it launched a new smartphone earlier this week.

The company turned in a loss of $207 million for its second financial quarter.  That’s way less than the $965 million it made in the same quarter last year.

The Canadian company said revenues for the quarter amounted to $916 million – with 46 percent representing hardware, 46 percent services, and eight percent for software and other sales.

Blackberry shifted 2.4 million smartphones to end users and cut down its channel inventory.

John Chen, CEO and chairman of the company said: “We delivered a solid quarter against our key operational metrics and we are confident we will achieve break even cash flow by the end of financial year 2015. “Our workforce restructuring is now complete.”

It said it hoped to maintain its strong cash position in the future and will look for opportunities to “prudently invest in growth”.