Blackberry reports $144M loss, revenue down 32% in Q3 2021

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BlackBerry Ltd. says its net loss widened to US$144 million in its latest quarter as revenue fell 32 percent.

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The Waterloo, Ont., based company, which reports in US dollars, says it lost 25 cents per share in the three months ended August 31, compared to a loss of four cents per share, or US$23 million, a year earlier. happened.

Losses include 12 cents per share for non-cash accounting adjustments for the fair value of convertible debentures as a result of market and trading conditions.

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Excluding one-time items, it came in for an adjusted profit of $58 million, or 10 cents per share, in the second quarter of its fiscal year 2021 with an adjusted loss of US$33 million, or six cents per share.

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According to financial data firm Refinitiv, BlackBerry was expected to report an adjusted loss of seven cents per share and a net loss of 13 cents per share on revenue of US$163.5 million.

The company says it has hired John Giamatteo, who was president and chief revenue officer at McAfee, to head the cybersecurity business effective October 4.

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