Problem after update: blue screen with only the mouse cursor

My Ubuntu 12.04 was normally updated through the Update Manager, something about gtk. Then I rebooted and now all that shows after the splash screen is a blue screen that only shows the cursor.

I experienced the same issue. After a lot of painful efforts, solved the problem in my box.

Doing the below steps fixed the problem in my machine:

* press ctrl+alt+f1 and login as root in the tty1
* cd /usr/lib/*arch-name*/gdk-pixbuf-2.0/
* find *some-version-number*/loaders/ > ~/pixbuf-files
  *(not the pkg-version,try ls cmd,only one dir would list out)*
* vim ~/pixbuf-files and delete 1st line
* cat ~/pixbuf-files | xargs -n1  gdk-pixbuf-query-loaders > *the-version-number-in-step-3*/loaders.cache 
* reboot

in my case:

* press ctrl+alt+f1 and login as root in the tty1
* cd /usr/lib/x86_64-linux-gnu/gdk-pixbuf-2.0/
* find 2.10.0/loaders/ > ~/pixbuf-files
* vim ~/pixbuf-files and delete 1st line
* cat ~/pixbuf-files | xargs -n1  gdk-pixbuf-query-loaders > 2.10.0/loaders.cache 
* reboot