Blackberry announces $965m loss

BlackBerry says it is committed to completing a series of major changes quickly after posting a nearly billion-dollar loss and a 45% drop in revenue for the second quarter.

The troubled smartphone company reported a loss of US $965m (€715m) and revenue of $1.6bn (€1.2bn), in line with what it warned when it surprised the market by pre-releasing dismal earnings projections last week and announcing 4,500 layoffs.