Why BlackBerry Stock Is Trading Lower Today

BlackBerry Ltd BB shares are trading lower Friday after the company announced financial results and reportedly said it expects full-year 2023 cyber security revenue to be flat and licensing revenue to be minimal.

BlackBerry reported fourth-quarter revenue of $185 million, which beat the $177.25 million estimate. The company reported quarterly adjusted earnings of 1 cent per share, which beat the estimate for a loss of 7 cents per share. 

According to RBC Capital Markets, the cyber security guidance implies about $477 million in revenue, which is below the analyst firm's estimate of $530 million. 

RBC maintained BlackBerry with a Sector Perform rating following the company's quarterly results. 

BlackBerry is a software provider with a stated goal of end-to-end secure communication for enterprises.

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BB 52-Week Range: $5.80 - $20.17

The stock was down 9.15% at $6.78 at time of publication.

Photo: courtesy of BlackBerry.