BlackBerry Reports Q2 Earnings, Sees Strong Second Half For Cyber Business

BlackBerry Ltd BB reported second-quarter financial results Thursday after the close. Here's a rundown of the report.

• Q2 Revenue: $132 million versus estimates of $132.03 million
• Q2 EPS: loss of 4 cents versus estimates for a loss of 6 cents

IoT revenue was $49 million, cybersecurity revenue totaled $79 million in the quarter and licensing and other revenue came in at $4 million.

"Our IoT business continues to win new designs and add royalty backlog at a strong rate, illustrating how well-positioned this business is in the medium to long term. We expect a strong finish for IoT revenue this fiscal year, with the fourth quarter forecasted to be the strongest ever," said John Chen, executive chair and CEO of BlackBerry.

"Further, we are excited by the response from beta customers to our next generation QNX® Software Development Platform 8.0, and its potential to enable embedded Generative AI applications."

BlackBerry said it expects strong revenue for its cybersecurity business in the second half of the year. The company plans to discuss its outlook further on a conference call set for 5:30 p.m. ET.

BlackBerry reported preliminary second-quarter results earlier this month, which could help explain Thursday's muted reaction.

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BB Price Action: BlackBerry shares were up 0.21% after hours at $4.75 at the time of publication, according to Benzinga Pro.

Photo: Courtesy of BlackBerry.