BlackBerry has cancelled its second-quarter earnings call, which was scheduled to take place along with the release of its financial results on Friday. The company said the cancellation was because of the letter of intent to be acquired by Fairfax Financial Holdings it signed earlier this week. Fairfax agreed to pay $4.7 billion for the beleaguered phone maker.
Further details about its second-quarter results will be released when BlackBerry files financial statements next week.
The company has already issued a grim outlook for it 2Q2014 earnings, which are far below analysts’ expectations. BlackBerry said it will report quarterly revenue of about $1.6 billion, a dramatic decline from $3.1 billion in the first quarter. GAAP net operating loss will be between $950 million and $995 million, due largely to underwhelming BlackBerry Z10 sales.
This is the latest announcement in a difficult week for the phone maker. On Sept. 20, BlackBerry temporarily trading of its shares to confirm reports that 4,500 employees–or about 30% to 40% of its total workforce–will be laid off by the end of this year. T-Mobile also said earlier today that it will no longer stock BlackBerry in most of its retail stores.
Correction: An earlier version of this story stated that BlackBerry was canceling its Q2 2013 earnings call, but it’s the company’s Q2 2014 call that has been canceled.