With BlackBerry reporting an $84 million (£55 million) loss for the three months ending June 1, the shares of the Canada-based device manufacturer plummeted 28 percent - or $4.02 - to $10.46 in New York on Friday.

Amid apprehensions that BlackBerry's crucial turnaround is probably not yielding the projected results, BlackBerry disappointed the industry watchers and analysts by reporting a loss of $84 million for its fiscal first quarter, which was the first full quarter since the launch of the company's new BlackBerry 10 (BB10) operating system.

Along with reporting the quarterly loss, BlackBerry also reported a loss of nearly 4 million subscribers during the quarter; and even forecast another operating loss for the ongoing quarter.

With concerns about BlackBerry's turnaround mounting further because of the company's decision of not sharing specific smartphone sales figures while reporting its results, the company's CEO Thorsten Heins cautioned analysts during the earnings call that "transition takes time."

Further adding that BlackBerry will continue to focus on the global launch of BB10 and was optimistic about the software becoming a hit with customers, Heins said: "We are confident in the ongoing success of our transformation in the coming years. We are doing the right thing."