English
Français
Deutsch
Italiano
Português
Русский
Español
简体中文
日本語
By Adriano Marchese
Shares in BlackBerry were sharply lower Thursday morning after the company’s preliminary fiscal second-quarter revenue came in below analysts’ estimates.
At 9:48 a.m. ET, shares trading in Toronto were more than 14% lower at 6.52 Canadian dollars ($4.78).
The Waterloo, Ontario-based security software company reported late Wednesday that preliminary second-quarter revenue would be $132 million, well below the $204.2 million forecast by analysts polled by FactSet, citing delays in the closing of certain deals.
The company reaffirmed its full-year revenue outlook for its cybersecurity and licensing divisions, but lowered its guidance for its IoT unit because of changes to the production schedules at some automakers and uncertainty in the economy. The full-year revenue outlook for the IoT business unit is now expected to be in the range of $225 million to $240 million.
Chief Executive and Executive Chair John Chen said the company expects to close these deals this fiscal year and reiterated the company’s full-year outlook for the cybersecurity business unit.
Write to Adriano Marchese at [email protected]
Read the full article here
