TORONTO — BlackBerry reported a massive $4.4 billion loss in the third quarter and a 56 percent drop in revenue in its first quarterly report under new chairman and chief executive John Chen.
Despite the results, Chen said on a conference call with analysts that BlackBerry “has a really good shot” of turning a profit in 2016 and management will try its best to achieve the goal. Chen later laughed when an analyst wished him the “best of luck.”
The former Sybase CEO is credited with turning around Sybase, a data company that was sold to SAP in 2010. Chen said reviving BlackBerry will be his most “complicated” challenge but noted, however, that the company has $3.2 billion in cash, which will “definitely allow us to engineer our turnaround.”