Shares closed up over 23 per cent on the Toronto Stock Exchange after the Waterloo, Ont., software company reported a quarterly net loss of US$11 million, an improvement from the US$21-million loss it reported in the same period last year. Revenue rose more than 6.5 per cent to US$162 million, which included sales from the recently offloaded Cylance division. (The Logic)
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Shares closed up over 23 per cent on the Toronto Stock Exchange after the Waterloo, Ont., software company reported a quarterly net loss of US$11 million, an improvement from the US$21-million loss it reported in the same period last year. Revenue rose more than 6.5 per cent to US$162 million, which included sales from the recently offloaded Cylance division. (The Logic)
Talking point: BlackBerry said it hit an “inflection” point toward profitability, even while it cut its fiscal-year revenue guidance. TD Cowen upgraded BlackBerry’s stock to “buy” after the earnings announcement, citing “significantly improved cash-flow expectations” and more prudent spending by management. Earlier this week, Blackberry sold one of its cybersecurity businesses, Cylance, for US$160 million. It has been working on expanding its QNX software system, an operating system used by the auto industry to program safety functions in 255 million vehicles, into the medical, industrial and rail markets.
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