UPDATE 3-BlackBerry confirms deep loss and revenue drop

Fri Sep 27, 2013 12:46pm EDT
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By Alastair Sharp and Allison Martell

TORONTO, Sept 27 (Reuters) - BlackBerry Ltd reported a quarterly loss of nearly $1 billion on Friday, in line with a warning it gave last week, just days after the smartphone maker accepted its largest shareholder's tentative $4.7 billion bid to take it private.

The report showed Blackberry turned in a particularly limp performance in Latin America, a region it recently touted as a enthusiastic supporter of its devices.

The company, which warned on Sept. 20 that the poor results were coming, said its net loss for the second quarter, ended on Aug. 31, was $965 million, or $1.84 a share.

Revenue fell 45 percent from a year earlier to $1.6 billion, and BlackBerry's cash pile - made up of cash and equivalents, short and long-term investments - fell by more than $500 million to $2.57 billion.

Its shares were little changed by early afternoon. Investors absorbed the shock of the drastic revenue decline last Friday, when a pre-announcement about the dismal results slashed 17 percent from the Canadian company's market value.