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    BB   CA09228F1036

BLACKBERRY LIMITED

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BlackBerry : first-quarter revenue beats expectations, shares rise

06/24/2021 | 05:49pm EDT

June 24 (Reuters) - Canadian security software supplier Blackberry Ltd beat Wall Street estimates for quarterly revenue on Thursday, lifted by a rebound in demand for its QNX operating software and cybersecurity products.

U.S.-listed shares of the company were up 1.3% at $12.84 in extended trading.

Revenue fell to $174 million in the first quarter ended May 31 from $206 million a year earlier, but beat analysts' average estimate of $171.25 million, according to Refinitiv-IBES data.

Demand for cybersecurity services have been on the rise as businesses increasingly migrate to cloud-based computing to support remote work during the COVID-19 pandemic.

A boom in electric-vehicle sales has also bolstered demand for BlackBerry's QNX software, primarily used in cars.

Net loss in the quarter narrowed to $62 million, or 11 cents per share, from $636 million, or $1.14 cents per share, a year earlier.

The company was also one of the "meme stocks" that received major attention from investors after a social-media driven retail short-squeeze frenzy. BlackBerry's shares are up over 90% so far this year. (Reporting by Eva Mathews and Niket Nishant in Bengaluru; Editing by Ramakrishnan M.)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BLACKBERRY LIMITED -2.12% 12.48 Delayed Quote.52.01%
S&P 500 -0.47% 4401.46 Delayed Quote.17.46%
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Financials (USD)
Sales 2022 782 M - -
Net income 2022 -227 M - -
Net cash 2022 452 M - -
P/E ratio 2022 -24,8x
Yield 2022 -
Capitalization 5 613 M 5 627 M -
EV / Sales 2022 6,60x
EV / Sales 2023 5,34x
Nbr of Employees 3 497
Free-Float 98,5%
Chart BLACKBERRY LIMITED
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BlackBerry Limited Technical Analysis Chart | BB | CA09228F1036 | MarketScreener
Technical analysis trends BLACKBERRY LIMITED
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Income Statement Evolution
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Mean consensus SELL
Number of Analysts 9
Last Close Price 9,91 $
Average target price 6,10 $
Spread / Average Target -38,5%
EPS Revisions
Managers and Directors
John S. Chen Executive Chairman & Chief Executive Officer
Thomas Eacobacci President & Chief Operating Officer
Steve Rai Chief Financial Officer
Charles Eagan Chief Technology Officer
Christopher Hummel Chief Information Officer
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