Shares of BlackBerry Ltd. fell Thursday in the extended session after the cybersecurity and IoT company edged higher than Wall Street expectations.
shares were down 1.5% after hours, after rising 0.9% in the regular session to close at $5.37.
The company posted a loss of $181 million in the first quarter, or a loss of 35 cents per share on a diluted basis, compared to a loss of $62 million, or a loss of 11 cents per share, in the same period. of the previous year. The adjusted loss, which excluded stock-based compensation expense and other items, was 5 cents per share, unchanged from the year-ago quarter.
Revenue decreased to $168 million from $174 million in the prior year quarter.
Analysts polled by FactSet had expected a loss of 6 cents per share on revenue of $157.1 million.
“The IoT business maintained momentum of new design gains in key rapidly growing automotive areas, including advanced driver assistance systems and digital cockpits, and posted a record third consecutive quarter for revenue. pre-production,” said John Chen, CEO and President of BlackBerry. , in a report. “The Cybersecurity business demonstrated strong market traction by recording double-digit year-over-year billing growth.”