Its Toronto-listed shares dropped nearly five per cent after the company’s latest quarterly results showed revenue fell to US$174 million from US$206 million in the same period last year. But the company’s loss narrowed to US$62 million, down from $636 million in the year-ago period. (The Logic)
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Its Toronto-listed shares dropped nearly five per cent after the company’s latest quarterly results showed revenue fell to US$174 million from US$206 million in the same period last year. But the company’s loss narrowed to US$62 million, down from $636 million in the year-ago period. (The Logic)
Talking point: BlackBerry is still losing money—though far less than at the start of the pandemic, when the company took a US$594-million goodwill impairment charge, mostly related to cybersecurity unit BlackBerry Spark. On a conference call with analysts, Chen said the global microchip shortage that has slowed automakers is impacting sales for QNX. CIBC, TD and Canaccord analysts downgraded the company’s stock, citing the impact of the chip shortage and the company’s slow growth in software and services. Chen said in an interview with BNN Bloomberg that BlackBerry’s turnaround is taking longer than expected but he remains patient.
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