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BlackBerry Reports Q2 Net Loss Of $54 Million
BlackBerry (BB) reported a net loss of $54 million U.S. for its fiscal second quarter as its
revenue declined from a year earlier.
The Waterloo, Ontario-based company, which now focuses on cybersecurity and Internet of
Things (IoT) software, said its net loss in the quarter ended August 31 compared with a net loss
of $144 million U.S. in the same period a year ago.
The loss equaled 10 cents per share, compared with a 25 cent per share loss in Q2 2021.
Revenue of $168 million U.S. was down 4% from $175 million U.S. a year earlier.
Analysts who cover the company had expected a net loss of $39.49 million U.S. and revenue of
$166.7 million U.S., according to Refinitiv data.
In a news release, the company, which has moved from making smartphones to software,
highlighted the deals it has struck with Volkswagen (VLKAF) and various Chinese automakers to
provide its BlackBerry QNX operating system for their vehicles.
BlackBerry's stock is down 41% this year and currently changing hands at $6.99 per share.
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