Canadian Manufacturing

BlackBerry reports second quarter loss, revenue up from year ago

The sequential and year-over-year revenue growth this quarter exceeded the company's expectations despite the ongoing challenges from COVID-19

September 24, 2020  The Canadian Press

WATERLOO, Ont. — BlackBerry Ltd. reported a loss of US$23 million in its latest quarter as its revenue grew 6% compared with a year ago.

The security software and services company, which keeps its books in U.S. dollars, says the loss amounted to four cents per diluted share for the quarter ended Aug. 31. The result compared with a loss of US$44 million or 10 cents per diluted share a year earlier.

Revenue for what was the company’s second quarter totalled US$259 million, up from US$244 million in the same quarter last year and US$206 million in its first quarter.

BlackBerry says its non-GAAP earnings amounted to 11 cents per share for the quarter.

Advertisment

Analysts on average had expected an adjusted profit of two cents per share for the quarter and US$237 million in revenue, according to financial markets data firm Refinitiv.

BlackBerry executive chairman John Chen says the sequential and year-over-year revenue growth this quarter exceeded the company’s expectations despite the ongoing challenges from COVID-19.