BlackBerry reports revenue up after purchase of U.S. cyber security company
BlackBerry's headquarters in Waterloo, Ont. is shown on Wednesday, June 22, 2016. THE CANADIAN PRESS/Eduardo Lima
The Canadian Press
Published Wednesday, June 26, 2019 12:44PM EDT
BlackBerry Ltd. says it had a US$35-million loss with US$247 million of revenue in the first full quarter since it bought Cylance, which represents a new generation of technology for the company.
The Waterloo, Ont.-based company acquired Cylance, a California-based artificial intelligence and cyber security company, in February for US$1.4 billion.
BlackBerry, which reports in U.S. dollars, says its loss for the three months ended May 31 amounted to nine cents per diluted share, compared with a year-earlier loss of US$60 million or 11 cents per diluted share.
Revenue for the former smartphone maker was up 16 per cent from US$213 million in the same quarter last year.
On an adjusted basis, BlackBerry reported a profit of a penny per diluted share and revenue of US$267 million, up 23 per cent from a year ago.
Analysts had estimated BlackBerry would have one cent per share of adjusted earnings with US$265 million of revenue, according to Thomson Reuters Eikon.