RIM lost $518 million, or 99 cents a share, in its fiscal first quarter, which ended June 2. This compares with a profit of $695 million, or $1.33 per share, a year ago.
Excluding impairment charges, the latest loss was 37 cents per share. Analysts polled by FactSet were expecting a loss of 3 cents.
Revenue fell 43 percent to $2.8 billion, well below analyst expectations at $3.1 billion.
RIM said it shipped just 7.8 million BlackBerry smartphones in the quarter, down 41 percent from 13.2 million a year earlier.
Heins said the company is expecting the next several quarters to be “very challenging.” He said RIM is in the midst of a platform transition and faces an increasingly competitive environment. Research firm IDC says BlackBerrys U.S. market share has plummeted from 41.1 percent in 2007 to 3.6 percent in first three months of 2012.
Colin Gillis, an analyst with BGC Financial, said the results and news of a BlackBerry 10 delay is far worse than the horrible news he had already expected.
“When a technology gets old, it’s not a slow fade. It’s a sharp cliff,” Gillis said.
“There is very little market for old technology.”
Michael Walkley, an analyst with Canaccord, called the BlackBerry 10 delay a dire sign and said a delay like that is an eternity in the rapidly changing technology sector.
“The biggest disappointment is the delay of the BlackBerry 10,” he said. “It’s extremely challenging for them to turn around the business when their new smartphone is launching that late.”