BlackBerry Ltd. (TSX:BB)(NASDAQ:BBRY), one of the world’s largest mobile communications companies, announced its second-quarter earnings results on the morning of September 25, and its stock responded by falling over 7% in the trading session that followed. Let’s take a closer look at the results to determine if this weakness represents a long-term buying opportunity, or a sign of things to come.

The results that ignited the sell-off

Here’s a summary of BlackBerry’s second-quarter earnings results compared with what analysts had expected and its results in the same period a year ago. All figures are in U.S. dollars.

Metric Q2 2016 Actual Q2 2016 Expected Q2 2015 Actual
Adjusted Earnings Per Share ($0.19) ($0.09) $0.01
Revenue $490 million $611 million $916 million

Source: The Canadian Press

In the second quarter of fiscal 2016, BlackBerry reported an adjusted net loss of $66 million, or $0.13 per share, compared to an adjusted net profit of $7 million, or $0.01 per share, in the same period a year ago, as its revenue decreased 46.5% to $490 million. These very weak results can be attributed to the company recognizing hardware revenue on a mere 800,000 BlackBerry smartphones during the quarter, a decrease of 61.9% from the 2.1 million recognized in revenue in the year-ago period.

Here’s a quick breakdown of six other notable statistics from the report compared with the year-ago period:

  1. Hardware revenues decreased 51.9% to $201 million
  2. Software and services revenues increased 17.7% to $73 million
  3. Service access fee revenues decreased 49.9% to $211 million
  4. Adjusted gross profit decreased 53.8% to $201 million
  5. Adjusted earnings before interest, taxes, depreciation, and amortization decreased 62.4% to $68 million
  6. Net cash provided by operating activities decreased 41.1% to $244 million

What should you do with the stock today?

It was a dismal quarter for BlackBerry, so I think the post-earnings sell-off in its stock is warranted. I also think it could face continued weakness going forward, because the company does not have any catalysts of growth and because its current product mix is not resonating as well with consumers as it used to, which will likely lead to further disappointment in the quarters ahead.

With all of the information above in mind, I think Foolish investors should avoid BlackBerry today.

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Fool contributor Joseph Solitro has no position in any stocks mentioned.