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Correction: BlackBerry Shares Rise as Company Targets Profitability, Assesses Cylance Options
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Correction: BlackBerry Shares Rise as Company Targets Profitability, Assesses Cylance Options
Oct 17, 2024 1:50 PM

02:19 PM EDT, 10/16/2024 (MT Newswires) -- (Corrects the month in the third paragraph.)

BlackBerry (BB) shares rose 5.4% in recent Wednesday trading as the company outlined plans to grow revenue and return to profitability and said it was exploring options for the Cylance business.

"Establishing virtually autonomous divisions, and significantly streamlining costs in the process, has enabled us to deliver on our commitment to greater financial transparency by providing divisional profitability," Chief Executive Officer John Giamatteo said Wednesday in a statement in tandem with an investor day presentation.

The company said it expects to report a profit in fiscal 2025. In September, the company projected an adjusted loss of $0.02 to $0.05 a share on revenue of $591 million to $616 million.

Price: 2.62, Change: +0.13, Percent Change: +5.02

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