SECURITY
SECURITY
SECURITY
Blackberry shares drop on mixed earnings report
Shares in BlackBerry Ltd. dropped in after-hours trading today after the company reported mixed results in its latest quarter.
For its second quarter ended Aug. 31, BlackBerry reported a loss before costs such as stock compensation of $29 million, or five cents per share, compared with a loss of $33 million, or six cents per share, in the same quarter of last year. Revenue fell 4%, to $168 million.
Analysts had been expecting a loss of seven cents per share on revenue of $177.25 million. However, other reports suggest that analysts had been expecting revenue of $166.7 million.
Internet of Things revenue in the quarter came in at $51 million, up 28% year-over-year, and cybersecurity revenue dropped 8%, to $111 million. Software and services revenue, which includes IoT and cybersecurity, came in at $162 million, with licensing and other revenue rounding out total revenue at $6 million.
Total cash, cash equivalents and investments sat at $669 million as of the end of the quarter, with net cash used by operating activities during the quarter coming to $23 million.
Highlights in the quarter included Volkswagen AG’s software company Cariad SE selecting BlackBerry QNX for its VW.OS and PATEO Inc., a Chinese connect car manufacturer, selecting QNX for its intelligent cockpit. Chinese electric car maker Hozon New Energy Automobile Co. Ltd. also selected QNX to be used in its NETA Auto range of electric vehicles.
On the cybersecurity side, BlackBerry has teamed up with LeapXpert Ltd. to collaborate on enabling the BlackBerry Dynamics platform to provide secure communications through leading messaging applications such as iMessage, WhatsApp and SMS.
“In our cybersecurity business, we delivered double-digit sequential billings growth, including securing significant business in both government and financial services, as well as in the middle market,” John Chen, executive chairman and chief executive officer of BlackBerry, said in a statement. “We’re executing on our plan and we’re seeing the decisions made in recent quarters starting to pay off, with Cybersecurity ARR expected to resume growth early next fiscal year.”
BlackBerry did not disclose its outlook in its general release and planned to do so in an investor call. Notes from the call were not available immediately. BlackBerry shares fell 2.75% in late trading.
Photo: BlackBerry
A message from John Furrier, co-founder of SiliconANGLE:
Support our mission to keep content open and free by engaging with theCUBE community. Join theCUBE’s Alumni Trust Network, where technology leaders connect, share intelligence and create opportunities.
- 15M+ viewers of theCUBE videos, powering conversations across AI, cloud, cybersecurity and more
- 11.4k+ theCUBE alumni — Connect with more than 11,400 tech and business leaders shaping the future through a unique trusted-based network.
About SiliconANGLE Media
SiliconANGLE Media is a recognized leader in digital media innovation, uniting breakthrough technology, strategic insights and real-time audience engagement. As the parent company of SiliconANGLE, theCUBE Network, theCUBE Research, CUBE365, theCUBE AI and theCUBE SuperStudios — with flagship locations in Silicon Valley and the New York Stock Exchange — SiliconANGLE Media operates at the intersection of media, technology and AI.
Founded by tech visionaries John Furrier and Dave Vellante, SiliconANGLE Media has built a dynamic ecosystem of industry-leading digital media brands that reach 15+ million elite tech professionals. Our new proprietary theCUBE AI Video Cloud is breaking ground in audience interaction, leveraging theCUBEai.com neural network to help technology companies make data-driven decisions and stay at the forefront of industry conversations.
