Blackberry stock slides after top Street View results


Shares of BlackBerry Ltd. fell Thursday in the extended session after the cybersecurity and IoT company edged higher than Wall Street expectations.

BlackBerry BB,
shares were down 1.5% after hours, after rising 0.9% in the regular session to close at $5.37.

The company posted a loss of $181 million in the first quarter, or a loss of 35 cents per share on a diluted basis, compared to a loss of $62 million, or a loss of 11 cents per share, in the same period. of the previous year. The adjusted loss, which excluded stock-based compensation expense and other items, was 5 cents per share, unchanged from the year-ago quarter.

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Revenue decreased to $168 million from $174 million in the prior year quarter.

Analysts polled by FactSet had expected a loss of 6 cents per share on revenue of $157.1 million.

“The IoT business maintained momentum of new design gains in key rapidly growing automotive areas, including advanced driver assistance systems and digital cockpits, and posted a record third consecutive quarter for revenue. pre-production,” said John Chen, CEO and President of BlackBerry. , in a report. “The Cybersecurity business demonstrated strong market traction by recording double-digit year-over-year billing growth.”

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