Cleveland Research Tracking Q2 BlackBerry Device Sales Below Expectations

Shares of BlackBerry

are outperforming the broader stock market Wednesday afternoon despite some concerning comments from Cleveland Research. The firm warned Q2 device sales for BlackBerry appear to be around the 5-6 million range, rather notably below the 6-7 million unit range expected at Cleveland. The firm also pointed to inventory levels for the Q10 and Z10 which look higher than previously anticipated. Cleveland Research is currently modeling for BlackBerry to report a second-quarter loss of $0.30/share. This is a good portion below the current Street consensus estimate of a loss of $0.13/share. BlackBerry is expected to report quarterly results at the end of September. The stock last traded at $8.79, up about 1 percent from Tuesday's close. The S&P 500 is currently up less than a half percent.