Investors will be closely watching BlackBerry’s latest financial results for the first quarter of fiscal 2024 to see if the company is on track to achieve management’s promise of profitability by the end of next year.
The Canadian security software and services company said last month that for fiscal 2024 it expects revenue growth in the range of 6.6% to 12.2% and it is targeting revenue between $665 million to $700 million.
It expects to achieve a profit by 4Q fiscal 2024, and positive full-year adjusted earnings and cash flow in fiscal 2025.
BlackBerry is handing down its 1Q results after the market close on Wednesday, June 28th and analysts expect the company to post a loss per share of $0.05 on revenue of $158.2 million.
In the year-ago quarter, the company posted a loss per share of $0.05 on revenue of $168 million.
Ahead of its earnings release, BlackBerry shares are trading at $4.80. The stock is up 44.9% year to date.
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