Blackberry stock slips after results top Street view
BlackBerry Ltd. shares ticked lower in the extended session Thursday after the cybersecurity and IoT company posted a slight beat to Wall Street expectations.
BlackBerry BB,
+ 0.94%
shares declined 1.5% after hours, following a 0.9% rise in the regular session to close at $ 5.37.
Revenue declined to $ 168 million from $ 174 million in the year-ago quarter.
Analysts surveyed by FactSet had forecast a loss of 6 cents a share on revenue of $ 157.1 million.
“The IoT business maintained its momentum of new design wins in rapidly growing core Auto domains, including Advanced Driver Assistance Systems and Digital Cockpits, and delivered a third consecutive record quarter for pre-production revenues,” said John Chen, BlackBerry chief executive and chairman. , in a statement. “The Cybersecurity business demonstrated solid traction in the market by recording double-digit year-over-year billings growth.”
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