Published On: Wed, Jun 26th, 2019

BlackBerry reports Q1 revenue up in first full quarter with Cylance

WATERLOO, Ont. – 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.

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Analysts had estimated BlackBerry would have one cent per share of adjusted earnings with US$ 265 million of revenue, according to Thomson Reuters Eikon.

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BlackBerry reports Q1 revenue up in first full quarter with Cylance