BlackBerry (NYSE:BB) shares were down sharply after the company reported a $315-million U.S. loss and disappointing revenue for its fiscal fourth quarter.
The Ontario-based cybersecurity and automotive software company said that it had a net loss equal to 56 U.S. cents per share, compared with a loss of $41 million U.S. or seven U.S. cents per share a year earlier.
On an adjusted basis, BlackBerry recorded a profit of three U.S. cents per share. Quarterly revenue for the Waterloo, Ontario-based company, which reports its results in American dollars, was $210 million U.S., down from $282 million U.S. a year earlier.
BlackBerry also announced adjusted revenue of $215 million U.S., down from $291 million U.S. a year earlier. Analysts had expected three U.S. cents per share of adjusted earnings with $248.14 million U.S. of revenue for the three months ended February 28, according to data from Refinitiv.
BlackBerry shares were down about 6% in pre-market trading Wednesday at $8.79.
Tech Insider
