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Update: BlackBerry Now Up 6% In US After Hours After Swinging To Surprise Q4 Profit; Adds Comments From CEO On Separating Divisions and Drive Towards Profitability
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Update: BlackBerry Now Up 6% In US After Hours After Swinging To Surprise Q4 Profit; Adds Comments From CEO On Separating Divisions and Drive Towards Profitability
Apr 3, 2024 4:23 PM

05:30 PM EDT, 04/03/2024 (MT Newswires) -- BlackBerry Limited ( BB ) (BB.TO, BB), which provides intelligent security software and services to enterprises and governments around the world, was at last look up 7.5% in after-hours New York trading on Wednesday as it reported Q4 EPS normalized of US$0.03 versus a forecast loss of $0.03 as per Capital IQ and last year's loss of $0.02.

It reported Q4 EPS GAAP basic loss per share of US$0.10 versus a forecast loss of $0.05 and last year's loss of $0.85.

And it posted Q4 total company revenues of US$173 Million versus a forecast $153.22 million and last year's $151 million.

On outlook, BlackBerry is providing the following guidance for the first quarter (ending May 31, 2024) and the full fiscal year 2025 (ending February 28, 2025). It flagged total BlackBerry revenue for Q1 FY25 of US$130-$138 million and FY25 of $586-$616 million, and flagged Non-GAAP basic EPS for Q1 FY25 of ($0.04) to ($0.06) and for FY25 of ($0.03) to ($0.07).

"BlackBerry delivered a solid finish to the fiscal year, setting a number of new records in the process. Despite industry delays to automotive software development programs, our IoT division delivered its strongest ever quarter for revenue, as well as its best year for adding new QNX royalty backlog from design wins that resulted in 27% year-over-year growth to approximately $815 million," said John J. Giamatteo, CEO. "We also took small, but important steps forward for the Cybersecurity division, with ARR stabilizing and even increasing by 3% sequentially. At a Corporate level, we are making good progress with efforts to both separate the divisions and drive towards profitability, and operating cash usage more than halved sequentially this quarter."

The company's shares were last seen up US$0.21 to US$3.02 after hours. They closed down C$0.01 to C$3.81 on the Toronto Stock Exchange.

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