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BlackBerry shares fell nearly 4% in premarket trading

Tiger Newspress2021-12-22

BlackBerry shares fell nearly 4% in premarket trading.

BlackBerry Ltd. on Tuesday posted better-than-expected revenue even as sales fell from a year earlier, when the pandemic and work-from-home trends gave some of the software provider's businesses a boost.

The Canada-based security software provider reported a net profit of $74 million in the fiscal third quarter, compared with a loss of $130 million the same period a year earlier. The results included a $110 million fair value positive adjustment on debentures.

On an adjusted basis, the company reported breakeven earnings per share, compared with an expected loss of 7 cents a share, according to analysts polled by FactSet.

The company, which is no longer associated with BlackBerry-branded phones, posted revenue of $184 million, down from $218 million a year earlier. Analysts surveyed by FactSet expected sales of $173.6 million.

Earlier this year, BlackBerry stock was included in the so-called meme basket targeted by retail traders who sent shares soaring. In January, the stock touched as high as $28.77 a share but it has since been cut to about a third that price. Shares have still outpaced the broader market, closing Tuesday up almost 40% since Jan. 1.

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Comment9

  • Cubic
    ·2021-12-22
     Like pls
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  • Kel9670ong
    ·2021-12-22
    The posted result not very impressive
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  • Renzo Piano
    ·2021-12-22
    Blackwhat
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  • NelsonLee92
    ·2021-12-22
    Anyone still uses a blackberry phone?
    Reply
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  • haiguan
    ·2021-12-22
    Omg sales drop equal stock down nowadays
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    • ArcherWG
      No
      2021-12-22
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    • AnaiAnai
      thats the trend.
      2021-12-22
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  • HUIXIN
    ·2021-12-22
    Devastated 
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  • Nujue
    ·2021-12-22
    Like n comment
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    • Ichua
      So bad
      2021-12-22
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    • frusty
      done
      2021-12-22
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  • jc0110
    ·2021-12-22
    Pls like
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    • Chloess
      k
      2021-12-22
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    • ckh
      ok
      2021-12-22
      Reply
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  • Heidit
    ·2021-12-22
    Like 
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