Monday, April 21, 2014
The Associated Press
WATERLOO, Ontario — Research In Motion CEO Thorsten Heins pleaded for patience Tuesday as the company faces questions about its growth and survival.
BlackBerry shares were hammered last month after the company's financial results fell short of expectations. Heins told shareholders that BlackBerry is in the second stage of its turnaround. Stage 3, he said, includes profitability.
"We are still in the midst of a major, complex transition of this company, and like most of these transformations ... progress can be volatile," Heins said at the Canadian company's annual meeting.
The stock rose 9 cents, or nearly 1 percent, to close Tuesday at $9.64.
The company also won formal approval to change its name to BlackBerry. It announced plans for the name change in January, when it unveiled new phones running a revamped operating system called BlackBerry 10.