Kim Bolton discusses BlackBerry Ltd
BlackBerry Ltd.'s losses eased in the second quarter compared with last year while its revenue dipped.
The company, focused on cybersecurity and internet-enabled technology, says it had a net loss of US$54 million for the quarter ending Aug. 31, compared with a net loss of US$144 million for the same quarter last year.
The loss for the Waterloo, Ont.-based company worked out to 10 cents per diluted share, compared with 25 cents per diluted share last year.
Revenue of US$168 million was down from US$175 million a year earlier.
Analysts had expected a net loss of $39.49 million and revenue of US$166.7 million, according to financial markets data firm Refinitiv.
The company, which has pivoted from devices to software, highlighted how it has struck deals with Volkswagen and Chinese automakers in the quarter to provide its BlackBerry QNX operating system for their vehicles.