BlackBerry reports US$32M Q3 loss, software and services revenue climbs

WATERLOO, Ont. — BlackBerry Ltd. lost US$32 million in its latest quarter compared with a profit of US$59 million in the same quarter last year as its revenue climbed higher.

The security software company, which keeps its books in U.S. dollars, says the loss amounted to seven cents per diluted share compared with a loss of a penny per share a year ago.

Revenue in the quarter ended Nov. 30 totalled $267 million, up from $226 million.

The growth came as the company’s software and services revenue grew to $262 million, up 21 per cent compared with a year ago.

On an adjusted basis, BlackBerry says it earned $17 million or three cents per share in its latest quarter. Adjusted revenue totalled $280 million, up 23 per cent from a year ago.

Analysts on average had expected a profit of two cents per share and $276 million in revenue, according to financial markets data firm Refinitiv.

John Chen, BlackBerry’s executive chairman and CEO, said he was pleased with the company’s progress.

“BlackBerry achieved sequential growth in revenue across all of our software businesses while generating healthy non-GAAP profitability and free cash flow as we continue to invest in our future,” Chen said in a statement.

“Our pipeline is growing as we deliver against our product roadmap and execute on our go-to-market expansion.”

This report by The Canadian Press was first published Dec. 20, 2019.

Companies in this story: (TSX:BB)

The Canadian Press