Blackberry stock slips after results top Street view

The shares of BlackBerry Ltd. fell in the extended session on Thursday after the cybersecurity and IoT company saw a slight rise in Wall Street expectations.

BlackBerry BB,
+ 0.94%
shares were down 1.5% after hours, after a 0.9% increase in the regular session to close at $ 5.37.

The company posted a loss of $ 181 million in the first quarter, or a loss of 35 cents per share on a diluted basis, compared to a loss of $ 62 million, or a loss of 11 cents per share, in the period of last year. The adjusted loss, which excluded share-based compensation expenses and other items, was 5 cents per share, unchanged from last year’s quarter.

Revenue fell to $ 168 million from $ 174 million in the quarter last year.

Analysts polled by FactSet had forecast a loss of 6 cents per share with revenue of $ 157.1 million.

“The IoT business maintained its momentum of new design victories in the fast-growing automotive core domains, including advanced driver assistance systems and digital cabs, and offered a third consecutive quarter of pre-production revenue, ”said John Chen, CEO and president of BlackBerry. , in a statement. “The cybersecurity business showed strong traction in the market by recording double-digit year-on-year revenue growth.”

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