Shares in BlackBerry Ltd. rose slightly in late trading today after the Canadian software company delivered mixed earnings results.

For its fiscal second quarter ended Aug. 31, BlackBerry reported an adjusted loss of $28 million, or four cents per share, a slight improvement on a loss of $29 million, or five cents a share, in the same quarter of last year, on revenue of $132 million, down 21% year-over-year. Analysts had been expecting a loss per share of six cents on revenue of $134.25 million, although some reports suggest that the expected figure was $132 million.

By sector, BlackBerry reported internet of things revenue of $49 million on a gross margin of 84%. Both rose 9%, up four percentage points sequentially. BlackBerry’s cybersecurity revenue came in at $79 million, with cybersecurity annual recurring revenue sitting at $279 million and billings at $74 million. Licensing and other revenue came in at $4 million.

As of the end of the quarter, BlackBerry had $519 million in cash, cash equivalents, short-term and long-term investments on hand, down $59 million.

Recent business highlights included the Mobility in Harmony Consortium, as Foxconn, formally called Hon Hai Precision Industry Co. Ltd., led open electric vehicle development platform, selecting BlackBerry QNX and BlackBerry IVY for its next-generation electric vehicle platform. BlackBerry QNX is BlackBerry’s real-time operating system for the embedded systems market and IVY is the company’s in-vehicle software platform.

BlackBerry IVY was also selected by Mitsubishi Electric Corp. to power its new automotive in-cabin system, FlexConnect.X. The new system has been designed to enhance road safety and enable new customer experiences by leveraging IVY’s sensor insights.

BlackBerry did not disclose its outlook in its general release and planned to do so in an investor call. Notes from the investor call were not immediately available.

“Our IoT business continues to win new designs and add royalty backlog at a strong rate, illustrating how well-positioned this business is in the medium to long term,” John Chen, executive chair and chief executive officer of BlackBerry, said in its earnings release. “We expect a strong finish for IoT revenue this fiscal year, with the fourth quarter forecasted to be the strongest ever.”

The promise from Chen on the IoT business going well may have pleased investors as, despite mixed results, BlackBerry shares inched up just shy of 1% in late trading.

Photo: BlackBerry