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BlackBerry first-quarter revenue beats expectations, shares rise

Reuters2021-06-25

June 24 (Reuters) - Canadian security software supplier Blackberry Ltd beat Wall Street estimates for quarterly revenue on Thursday, lifted by a rebound in demand for its QNX operating software and cybersecurity products.

U.S.-listed shares of the company were up 1.3% at $12.84 in extended trading.

Revenue fell to $174 million in the first quarter ended May 31 from $206 million a year earlier, but beat analysts' average estimate of $171.25 million, according to Refinitiv-IBES data.

Demand for cybersecurity services have been on the rise as businesses increasingly migrate to cloud-based computing to support remote work during the COVID-19 pandemic.

A boom in electric-vehicle sales has also bolstered demand for BlackBerry's QNX software, primarily used in cars.

Net loss in the quarter narrowed to $62 million, or 11 cents per share, from $636 million, or $1.14 cents per share, a year earlier.

The company was also one of the "meme stocks" that received major attention from investors after a social-media driven retail short-squeeze frenzy. BlackBerry's shares are up over 90% so far this year.

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Comment56

  • Apolonio
    ·2021-06-26
    cool
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  • skyteoh83
    ·2021-06-26
    Take care, not looking good
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  • arcana1975
    ·2021-06-25
    Earnings beat and ner loss fell by 90%!! Yet stock press falls. Either investors are idiots or the shorts are trying hard, very hard.
    Reply
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  • RYong
    ·2021-06-25
    Beats expectations but still sinks more than 5% ?
    Reply
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  • SureWinkiat
    ·2021-06-25
    Who is the one keep selling.
    Reply
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  • sproink
    ·2021-06-25
    Just bought MORE
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    • AngieAbcde
      Not bad:)
      2021-06-30
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    • sproink
      12.2 and 13,avg 12.5
      2021-06-30
      Reply
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    • AngieAbcde
      What pRice u enTer?
      2021-06-25
      Reply
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  • Jaren7
    ·2021-06-25
    Why price drop.badly
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    • Fishark
      ya same thoughts ):
      2021-06-25
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  • moondream
    ·2021-06-25
    Nice
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  • Heroyeo
    ·2021-06-25
    Nice
    Reply
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  • mmz1972
    ·2021-06-25
    Up to the moon
    Reply
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  • Liha
    ·2021-06-25
    I need T
    Reply
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  • JJQ
    ·2021-06-25
    BB ??? up up and away! 
    Reply
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  • GuoHao72
    ·2021-06-25
    To the moon?
    Reply
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  • GuoHao72
    ·2021-06-25
    NoOOoO
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  • Juneriq
    ·2021-06-25
    Please like and comment pls...bless u
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    • JJQ
      Done!
      2021-06-25
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  • Benlaps
    ·2021-06-25
    Surprise 
    Reply
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  • KT3
    ·2021-06-25
    To the moon
    Reply
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  • Chris68
    ·2021-06-25
    Buy more at the dip
    Reply
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  • Irene104
    ·2021-06-25
    Please like & comment. Thanks.
    Reply
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    • Huathk
      Gd
      2021-10-19
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    • Irene104
      Thanks
      2021-10-19
      Reply
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    • Ak91
      Comment bacK ple
      2021-06-25
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    View more 1 comments
  • may_bb
    ·2021-06-25
    Up up please
    Reply
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