Why BlackBerry (BB) Shares Are Trading Lower Premarket Today - BlackBerry (NYSE:BB)

BlackBerry Limited BB shares declined premarket Friday after it missed the fourth-quarter topline consensus on Thursday.
BlackBerry reported Q4 revenue of $151.00 million, missing the consensus of $156.65 million.
Adjusted EPS loss of $(0.02) beat the consensus loss of $(0.07).
Cybersecurity revenue declined 27.9% Y/Y to $88 million, IoT revenue improved by 1.9% Y/Y to $52 million, and Licensing and Other revenue decreased by 9.1% Y/Y to $10 million.
The gross margin declined by 100 bps due to lower margins of the Cybersecurity and IoT segments.
"This fiscal year, BlackBerry's IoT business unit set a new record for QNX design wins, with royalty backlog reaching $640 million. Further, despite near-term macro and supply chain challenges for vehicle production, revenue increased by 16% year over year. This quarter we also announced the first IVY design win with a leading automaker," said John Chen, Executive Chairman & CEO, BlackBerry.
"As previously communicated, BlackBerry's Cybersecurity business unit saw the timing of a number of large government deals slip into later quarters, but we are confident that they will close this fiscal year."
Price Action: BB shares traded lower by 3% at $3.88 premarket on the last check Friday.

Why BlackBerry Shares Are Trading Lower Premarket Today