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BlackBerry Ltd T.BB

Alternate Symbol(s):  BB

BlackBerry Limited is a Canada-based company, which provides intelligent security software and services to enterprises and governments worldwide. The Company leverages artificial intelligence (AI) and machine learning to deliver solutions in the areas of cybersecurity, safety, and data privacy and specializes in the areas of endpoint management, endpoint security, encryption, and embedded systems. It operates in three segments: Cybersecurity, IoT, and Licensing and Other. Cybersecurity consists of BlackBerry UEM and Cylance cybersecurity solutions (collectively, BlackBerry Spark), BlackBerry AtHo, and BlackBerry SecuSUITE. The Company’s endpoint management platform includes BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces solutions. The IoT consists of BlackBerry QNX, BlackBerry Certicom, BlackBerry Radar, BlackBerry IVY and other Internet of things (IoT) applications. Licensing and Other consists of the Company’s intellectual property arrangements and settlement award.


TSX:BB - Post by User

Post by kijijion Mar 31, 2022 9:56pm
225 Views
Post# 34565478

BlackBerry ends the year in the black as it earns US$144M

BlackBerry ends the year in the black as it earns US$144M BlackBerry ends the year in the black as it earns US$144M in fourth quarter

WATERLOO, ONTARIO — BlackBerry Ltd. ended the year in the black despite lower revenues as it swung to a US$144-million profit in the fourth quarter.
 
The Waterloo, Ont.-based company, which reports in U.S. dollars, says it earned US$12 million on US$718 million of revenues in 2021, compared with a loss of US$1.1 billion on US$893 million in 2020.
 
For the three months ended Feb. 28, it earned 25 cents per basic share, compared with a loss of 56 cents per share or US$315 million in the fourth quarter of 2021.
 
Adjusted profits were US$6 million, down from US$14 million in the prior-year quarter.
 
Revenues decreased 12 per cent to US$185 million from US$210 million with $122 million coming from cybersecurity, $52 million from internet of things (IoT) and $11 million from licensing.
 
Analysts on average expected BlackBerry would post US$29.3 million in adjusted losses on US$186.8 million in profits, according to financial data firm Refinitiv.
 
"We're pleased with the progress that BlackBerry made this quarter," said executive chairman and CEO John Chen in a news release after markets closed.
 
"The IoT business recorded its first $50m-plus revenue quarter since the start of the pandemic. In addition to overcoming a number of industry-wide challenges, such as supply chain constraints and the war in Ukraine, the QNX business set another record for quarterly design-related revenue, demonstrating both strong fundamentals and momentum for the business.
 
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