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Dec 18, 2020

BlackBerry banks on new partnerships amid falling sales

BlackBerry tops Q3 estimates as key revenue line grows

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TORONTO -- Sales fell at BlackBerry Ltd. in the three months that ended Nov. 30, but the technology company is banking on partnerships with Amazon and Zoom to bring in steady revenue going forward.

The Waterloo, Ont.-based company says it had a net loss of US$130 million, or 23 cents US per share in its latest financial quarter, steeper than the same period last year when it lost US$32 million, or seven cents US per diluted share.

The cybersecurity and internet-of-things company says its revenue was $218 million during its latest quarter, down from $267 million in the same period last year.

On an adjusted basis, the company reported earnings of two cents US per share on revenue of US$224 million, better than the adjusted loss of one cent per share US on revenue of US$219.72 million expected by analysts polled by financial services firm Refinitiv.

The company, which this year launched a cybersecurity partnership with video streamer Zoom, says it now expects to end its fiscal year with about US$950 million in adjusted revenue, in line with guidance from earlier this year.

The quarterly report says that BlackBerry's recent deal with Amazon Web Services to develop and market BlackBerry's intelligent vehicle data platform will soon bring in regular revenue over multiple years.