Blackberry notes $23M loss, 6% rise in revenue

WATERLOO—BLACKBERRY Ltd. reported a loss of $23 million (U.S.) in its latest quarter as revenue grew six per cent compared with a year ago.

The security software and services company, which keeps its books in U.S. dollars, says the loss amounted to four cents per diluted share for the quarter ended Aug. 31.

The result compared with a loss of $44 million, or 10 cents per diluted share, a year earlier. Revenue for what was the company’s second quarter totalled $259 million, up from $244 million in the same quarter last year and $206 million in its first quarter.

Blackberry says its NONGAAP earnings amounted to 11 cents per share for the quarter.

Analysts on average had expected an adjusted profit of two cents per share for the quarter and $237 million in revenue, according to financial markets data firm Refinitiv.

Blackberry executive chair John Chen says the sequential and year-over-year revenue growth this quarter exceeded the company’s expectations.