Benzinga - BlackBerry Ltd (NYSE: BB) shares are trading lower in Tuesday's after-hours session after the company reported third-quarter results.
What Happened: Blackberry (TSX:BB) reported third-quarter revenue of $169 million, which beat average analyst estimates of $168.73 million, according to Benzinga Pro. IoT revenue totaled $51 million, cybersecurity revenue was $106 million, and software/services revenue totaled $157 million.
BlackBerry reported a third-quarter adjusted net loss of 5 cents per share, which beat estimates for a loss of 7 cents per share.
"In our Cybersecurity business, the rebuilding continues to gain momentum. In line with the path outlined last quarter, churn improved and there was further evidence that investments in go-to-market and the product portfolio will drive further sequential improvements and progress towards a return to ARR growth next fiscal year," said John Chen, executive chairman and CEO of BlackBerry.
BlackBerry ended the quarter with $505 million in cash and equivalents. The company said it would discuss its outlook on its conference call, which is scheduled for 5:30 p.m. ET.
BlackBerry provides intelligent security software and services to enterprises and governments around the world.
BB Price Action: BlackBerry has a 52-week high of $9.67 and a 52-week low of $3.94.
The stock was down 1.09% in after hours at $4.10 at the time of publication, according to Benzinga Pro.
Photo: courtesy of BlackBerry.
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