U.S. consumer electronics chain RadioShack Corp reported a much wider-than-expected quarterly loss, hurt by weak margins in its smartphone business.
The net loss was $47 million, or 47 cents a share in the third quarter, compared with year-earlier net income of $300,000, or nil per share.
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Excluding impairment charges and other one-time items, the loss was 33 cents a share, while analysts on average were looking only for a loss of 17 cents, according to Thomson Reuters I/B/E/S.
(Reporting by Dhanya Skariachan in New York; Editing by Lisa Von Ahn)