February 29th, 2024

BlackBerry reports loss in Q3, revenue up as it begins work to split business

By The Canadian Press on December 20, 2023.

The Blackberry logo located in the lobby of the company's B building in Waterloo, Ont. on Tuesday, May 29, 2018. THE CANADIAN PRESS/Andrew Ryan

BlackBerry Ltd. lost US$21 million in its third quarter, which it spent working to split up its business.

The Waterloo, Ont.-based software company, which reports its earnings in U.S. dollars, says the loss for the period ended Nov. 30 compared with a net loss of US$4 million a year earlier.

The loss amounted to five cents per diluted share compared with a loss of nine cents per basic share a year prior.

Financial markets data firm Refinitiv says analysts had expected the company to post a loss of five cents per basic share.

BlackBerry says its revenue for the third quarter was US$175 million, compared to US$169 million a year earlier.

Earlier this month, BlackBerry called off plans for an initial public offering of its Internet of Things business, but said it still plans to split that segment of the company from its cybersecurity division.

This report by The Canadian Press was first published Dec. 20, 2023.

Companies in this story: (TSX:BB)

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