Dec 20, 2022
BlackBerry reports net loss of US$4M in Q3 2023
The Canadian Press
Don't believe we're looking at a hard landing, but a slow return to normal: BlackBerry CEO
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BlackBerry Ltd. reported a net loss of US$4 million in the quarter ended Nov. 30, down from its US$74 million gain in the same quarter last year.
That amounts to a loss of nine cents per diluted share, compared to a five-cent diluted loss last year.
The Waterloo, Ont.-based company reported total revenue of US$169 million, down from US$184 million a year earlier.
The company saw revenue in what it calls the Internet of Things segment go up by 19 per cent year over year, while other areas such as cybersecurity and licensing were down.
Executive chairman and CEO John Chen said BlackBerry saw good progress in both its business units, with a record quarter in Internet of Things, and rebuilding gaining momentum in the cybersecurity segment.
The company, which has pivoted from devices to software and is focused on cybersecurity and internet-enabled technology, said its gross margin was 64.5 per cent compared to 63.6 per cent a year earlier.
