BlackBerry Limited shares have fallen 8% despite the company posting a revenue and earnings beat in its latest quarterly earnings as investor focus turned to concerns over its future in the cybersecurity sector.
For the three months ended November 30, BlackBerry reported revenue of US$169 million, down from US$184 million in the same quarter last year.
This included Internet-of-Things (IoT) revenue of US$51 million and cybersecurity revenue of US$106 million, compared to IoT revenue of US$43 million and cybersecurity revenue of US$128 million in the year-ago quarter.
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The company posted a non-GAAP basic loss per share of US$0.05 compared to a basic GAAP profit per share of US$0.13 and diluted GAAP loss per share of US$0.05 per share for the same period last year.
Analysts had been expecting revenue of US$164 million and a loss per share of US$0.08.
BlackBerry shares were down 8% shortly before noon on Wednesday, trading at about US$3.82 per share.
Contact the author at emily.jarvie@proactiveinvestors.com
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