BlackBerry (BB) shares fell more than 2% in after-hours despite the company reporting second-quarter results, with earnings per share ($0.05) better than consensus estimates of ($0.07). Revenue was $168 million, beating expectations of $161.45 million.
“Our IoT business continues to gain market share, and revenue from the design phase has remained close to record levels,” said John Chen, CEO and CEO of BlackBerry. The revenue of the Internet of Things business was $51 million, and the cybersecurity revenue was $111 million. .
The company is expected to discuss its full 2023 outlook during its earnings conference call.
By Davit Kerakossian