BlackBerry’s Revenue Plunged 32% In Fiscal Second Quarter

Canadian technology company BlackBerry (TSX:BB) says its net loss for its fiscal second quarter rose to $144 million U.S. as its revenue declined 32%.

The Waterloo, Ontario- based company, which reports its results in U.S. dollars, says it lost 25 cents U.S. per share in the three months ended August 31, compared with a loss of four cents U.S. per share or $23 million U.S. a year earlier.

Excluding one-time items, BlackBerry swung to an adjusted loss of $33 million U.S. or six cents U.S. per share, versus an adjusted profit of $58 million U.S. or 10 cents U.S. per share in its fiscal second quarter.

BlackBerry was expected to report an adjusted loss of seven cents U.S. per share and a net loss of 13 cents U.S. per share on $163.5 million U.S. of revenues, according to Refinitiv data.

The company also said it has appointed John Giamatteo, who was president and chief revenue officer at McAfee, as president of its cybersecurity business effective October 4.