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Sept. 28, 2022, 7:24 a.m. EDT

Blackberry stock slips even as results come in above expectations

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By Wallace Witkowski

BlackBerry Ltd. shares slipped in the extended session Tuesday even after the cybersecurity and Internet-of-Things company’s results exceeded the Wall Street consensus.

BlackBerry /zigman2/quotes/202784246/composite BB -5.37% shares declined 2% after hours, following a 2.4% rise in the regular session to close at $5.09.

The company reported a second-quarter loss of $54 million, or a loss of 10 cents a share on a diluted basis, compared with a loss of $144 million, or a loss of 25 cents a share, in the year-ago period. The adjusted loss, which excluded stock-based compensation expenses and other items, was 5 cents a share basic, as the company did not provide a diluted per-share figure.

Revenue declined to $168 million from $175 million in the year-ago quarter.

Analysts surveyed by FactSet had forecast a loss of 7 cents a share on revenue of $162.4 million.

“This was a solid second quarter for BlackBerry, where we delivered both revenue in line with, and EPS ahead of, expectations,” said John Chen, BlackBerry’s chief executive and chairman, in a statement. “Our IoT business continues to gain market share, and design-phase revenue remained at near-record levels.”

/zigman2/quotes/202784246/composite
US : U.S.: NYSE
$ 4.58
-0.26 -5.37%
Volume: 5.81M
Dec. 6, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.81 billion
Rev. per Employee
$212,030
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