BlackBerry relies on new partnerships amid declining sales

TORONTO – Sales of BlackBerry Ltd. fell in the three months that ended Nov. 30, but the tech company is banking on partnerships with Amazon and Zoom to generate steady revenue going forward. Waterloo, Ont.

TORONTO – Sales of BlackBerry Ltd. fell in the three months that ended Nov. 30, but the tech company is banking on partnerships with Amazon and Zoom to generate steady revenue going forward.

The Waterloo, Ont., Based company said it suffered a net loss of US $ 130 million, or 23 US cents per share, in its most recent fiscal quarter, more than the same period last year. , when it lost US $ 32 million, or seven US cents per share. diluted share.

The cybersecurity and Internet of Things company said its revenue was $ 218 million in its most recent quarter, up from $ 267 million in the same period last year.

On an adjusted basis, the company reported profit of two cents per share on revenue of $ 224 million, better than the adjusted loss of one cent per share on revenue of 219.72 million dollars expected by analysts polled by financial services firm Refinitiv.

The company, which this year launched a cybersecurity partnership with video streamer Zoom, said it now expects to end its fiscal year with adjusted revenue of around $ 950 million, as forecast early in the year. This year.

The quarterly report indicates that BlackBerry’s recent agreement with Amazon Web Services to develop and market BlackBerry’s intelligent vehicle data platform will soon generate regular revenue over several years.

This report by The Canadian Press was first published on December 18, 2020.

Companies in this story: (TSX: BB)

The Canadian Press


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