Connect with us

Company News

BlackBerry reports profit for Q4

Canada’s BlackBerry reported a surprise profit for the fourth quarter on Wednesday, helped by higher demand for its cybersecurity services amid growing online crimes and high-profile hacks.

U.S.-listed shares of the company rose 6.4% after the bell.

The company reported an adjusted net profit of 3 cents per share for the quarter ended Feb. 29, compared with analysts’ average estimate of a loss of 3 cents, according to LSEG data.

The Waterloo-based company’s quarterly revenue stood at $173 million, beating analysts’ average estimate of $154.78 million.

Revenue in the cybersecurity unit, which provides intelligent security software to enterprises and governments, rose 5% year-on-year to $92 million, while revenue from its internet of things (IoT) business jumped 25% to $66 million.

“We are making good progress with efforts to both separate the divisions and drive towards profitability, and operating cash usage more than halved sequentially this quarter,” CEO John Giamatteo said in a statement.

BlackBerry expects full-year 2025 revenue in the range of $586 million to $616 million and adjusted loss per share of 3 cents to 7 cents. Reuters

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!