BlackBerry reports large second quarter loss

Stumbling smartphone company BlackBerry reported a major net second quarter loss Friday and said it is burning cash at a higher rate as it moves to execute a deal that could take the company private.

Revenue for the quarter ended Aug. 31 was at $1.6 billion, with a net loss of $965 million, or $1.84 a share. That compares with revenue of $2.9 billion and a loss of $229 million, or 44 cents a share, for the same quarter last year.

Adjusted net loss from continuing operations was $248 million, or 47 cents per share. The per-share loss was on the low side of the 47 cent-to-51-cent range that BlackBerry warned of last week, when it announced preliminary results and plans to lay off 4,500 employees. Wall Street analysts had expected a loss of 49 cents a share.

Most of the financial results tracked last week's announcement. But BlackBerry disclosed that its operations consumed roughly $136 million in cash. That compares with $630 million in cash flow from operations in the previous quarter that ended June 1.

BlackBerry CEO Thorsten Heins said that he is "very disappointed" with the company's latest earnings report, which was released before financial markets opened Friday. BlackBerry shares were up 10 cents at $8.05 in premarket trading.

The Forbes Top 100 Richest People in America

Rank	Name	Net Worth	Age	Residence	Source
1	Bill Gates	$72 B	57	Medina, Washington	Microsoft
2	Warren Buffett	$58.5 B	83	Omaha, Nebraska	Berkshire Hathaway
3	Larry Ellison	$41 B	69	Woodside, California	Oracle
4	Charles Koch	$36 B	77	Wichita, Kansas	diversified
4	David Koch	$36 B	73	New York, New York	diversified
6	Christy Walton & family	$35.4 B	58	Jackson, Wyoming	Wal-Mart
7	Jim Walton	$33.8 B	65	Bentonville, Arkansas	Wal-Mart
8	Alice Walton	$33.5 B	63	Fort Worth, Texas	Wal-Mart
9	S. Robson Walton	$33.3 B	69	Bentonville, Arkansas	Wal-Mart
10	Michael Bloomberg	$31 B	71	New York, New York	Bloomberg LP
11	Sheldon Adelson	$28.5 B	80	Las Vegas, Nevada	casinos
12	Jeff Bezos	$27.2 B	49	Seattle, Washington	Amazon.com
13	Larry Page	$24.9 B	40	Palo Alto, California	Google
14	Sergey Brin	$24.4 B	40	Los Altos, California	Google
15	Forrest Mars, Jr.	$20.5 B	82	Big Horn, Wyoming	candy
15	Jacqueline Mars	$20.5 B	73	The Plains, Virginia	candy
15	John Mars	$20.5 B	77	Jackson, Wyoming	candy
18	Carl Icahn	$20.3 B	77	New York, New York	Investments
19	George Soros	$20 B	83	Katonah, New York	hedge funds
20	Mark Zuckerberg	$19 B	29	Palo Alto, California	Facebook
21	Steve Ballmer	$18 B	57	Hunts Point, Washington	Microsoft
22	Len Blavatnik	$17.8 B	56	London	diversified
23	Abigail Johnson	$17.2 B	51	Milton, Massachusetts	money management
24	Phil Knight	$16.3 B	75	Hillsboro, Oregon	Nike
25	Michael Dell	$15.9 B	48	Austin, Texas	Dell
26	Paul Allen	$15.8 B	60	Mercer Island, Washington	Microsoft, investments
27	Donald Bren	$14 B	81	Newport Beach, California	real estate
27	Ronald Perelman	$14 B	70	New York, New York	leveraged buyouts
29	Anne Cox Chambers	$13.5 B	93	Atlanta, Georgia	media
30	Rupert Murdoch & family	$13.4 B	82	New York, New York	media
31	Ray Dalio	$12.9 B	64	Greenwich, Connecticut	hedge funds
32	Charles Ergen	$12.5 B	60	Denver, Colorado	Dish Network
33	Harold Hamm	$12.4 B	67	Oklahoma City, Oklahoma	oil & gas
34	James Simons	$12 B	75	East Setauket, New York	hedge funds
35	Laurene Powell Jobs & family	$11.7 B	49	Palo Alto, California	Apple, Disney
36	John Paulson	$11.4 B	57	New York, New York	hedge funds
36	Jack Taylor & family	$11.4 B	91	St. Louis, Missouri	Enterprise Rent-A-Car
38	Philip Anschutz	$10.3 B	73	Denver, Colorado	investments
39	Richard Kinder	$10.2 B	68	Houston, Texas	pipelines
40	George Kaiser	$10 B	71	Tulsa, Oklahoma	oil & gas, banking
40	Harold Simmons	$10 B	82	Dallas, Texas	investments
42	Andrew Beal	$9.8 B	60	Dallas, Texas	banks, real estate
43	Steve Cohen	$9.4 B	57	Greenwich, Connecticut	hedge funds
44	Edward Johnson, III.	$9.3 B	83	Boston, Massachusetts	Investments
45	Patrick Soon-Shiong	$9 B	61	Los Angeles, California	pharmaceuticals
46	Samuel Newhouse, Jr.	$8.9 B	85	New York, New York	Media
47	Charles Butt & family	$8.5 B	75	San Antonio, Texas	supermarkets
47	Pierre Omidyar	$8.5 B	46	Honolulu, Hawaii	Ebay
49	Elaine Marshall & family	$8.3 B	71	Dallas, Texas	diversified
49	Hank & Doug Meijer	$8.3 B	-	Grand Rapids, Michigan	supermarkets
49	Eric Schmidt	$8.3 B	58	Atherton, California	Google
52	Donald Newhouse	$8.2 B	83	Somerset County, New Jersey	Media
53	David Tepper	$7.9 B	56	Livingston, New Jersey	hedge funds
54	Ralph Lauren	$7.7 B	73	New York, New York	Ralph Lauren
54	Stephen Schwarzman	$7.7 B	66	New York, New York	private equity
56	Leonard Lauder	$7.6 B	80	New York, New York	Estee Lauder
57	John Menard, Jr.	$7.5 B	73	Eau Claire, Wisconsin	retail
58	James Goodnight	$7.2 B	70	Cary, North Carolina	software
59	Eli Broad	$6.9 B	80	Los Angeles, California	investments
60	Richard DeVos	$6.8 B	87	Holland, Michigan	Amway
61	Jim Kennedy	$6.7 B	65	Atlanta, Georgia	media
61	John Malone	$6.7 B	72	Elizabeth, Colorado	cable television
61	Elon Musk	$6.7 B	42	Los Angeles, California	Tesla Motors
61	Blair Parry-Okeden	$6.7 B	62	Scone	media
65	David Duffield	$6.4 B	72	Blackhawk, California	business software
65	Herbert Kohler, Jr. & family	$6.4 B	74	Kohler, Wisconsin	plumbing fixtures
65	Thomas Peterffy	$6.4 B	68	Greenwich, Connecticut	discount brokerage
68	S. Truett Cathy	$6 B	92	Hampton, Georgia	Chick-fil-A
68	David Geffen	$6 B	70	Malibu, California	movies, music
70	Micky Arison	$5.9 B	64	Bal Harbour, Florida	Carnival Cruises
71	Sumner Redstone	$5.8 B	90	Beverly Hills, California	Media
71	Dennis Washington	$5.8 B	79	Missoula, Montana	construction, mining
73	Leslie Wexner	$5.7 B	76	New Albany, Ohio	retail
74	Ray Lee Hunt	$5.6 B	70	Dallas, Texas	oil, real estate
74	Charles Johnson	$5.6 B	80	Hillsborough, California	money management
74	Richard LeFrak & family	$5.6 B	68	New York, New York	real estate
77	Dannine Avara	$5.5 B	49	Houston, Texas	pipelines
77	Scott Duncan	$5.5 B	30	Houston, Texas	pipelines
77	Milane Frantz	$5.5 B	44	Houston, Texas	pipelines
77	Jeffery Hildebrand	$5.5 B	54	Houston, Texas	Oil
77	Rupert Johnson, Jr.	$5.5 B	72	Burlingame, California	money management
77	Ira Rennert	$5.5 B	79	New York, New York	investments
77	Randa Williams	$5.5 B	52	Houston, Texas	pipelines
84	Stanley Kroenke	$5.3 B	66	Columbia, Missouri	sports, real estate
85	Leon Black	$5.2 B	62	New York, New York	private equity
85	Gayle Cook	$5.2 B	79	Bloomington, Indiana	medical devices
85	Dustin Moskovitz	$5.2 B	29	San Francisco, California	Facebook
88	Patrick McGovern	$5.1 B	76	Hollis, New Hampshire	media
88	Charles Schwab	$5.1 B	76	Atherton, California	discount brokerage
90	Jin Sook & Do Won Chang	$5 B	58	Beverly Hills, California	Fashion retail
90	Thomas Frist, Jr. & family	$5 B	75	Nashville, Tennessee	health care
90	David Green	$5 B	71	Oklahoma City, Oklahoma	retail
93	Robert Rowling	$4.9 B	59	Dallas, Texas	investments
94	Stephen Ross	$4.8 B	73	New York, New York	real estate
95	Bruce Kovner	$4.7 B	68	New York, New York	hedge funds
95	Henry Kravis	$4.7 B	69	New York, New York	private equity
95	Ann Walton Kroenke	$4.7 B	64	Columbia, Missouri	Wal-Mart
98	Gordon Moore	$4.6 B	84	Woodside, California	Intel
98	Daniel Ziff	$4.6 B	41	New York, New York	investments
98	Dirk Ziff	$4.6 B	49	North Palm Beach, Florida	investments

98	Robert Ziff	$4.6 B	47	New York, New York	investments
102	Malcolm Glazer & family	$4.5 B	85	Palm Beach, Florida	sports teams,

Full List: http://www.forbes.com/forbes-400/list/#page:1_sort:0_direction:asc_search:_filter:All%20industries_filter:All%20states_filter:All%20categories