BlackBerry posts US$495-million loss in Q4

BlackBerry Ltd. reported a net loss of $495 million in the fourth quarter, down from a profit of $144 million in the year-ago quarter.

The Waterloo, Ontario-based technology company reports in U.S. dollars and posted diluted earnings per share of negative 85 cents for the quarter ended February 28, down from a loss of 3 cents a year ago. said he did.

The company attributed the loss primarily to $476 million of non-cash, goodwill and long-term asset impairment charges that impacted operating income.

Fourth-quarter revenues of $151 million were down 18% from $185 million in the year-ago quarter.

BlackBerry reported a loss of $734 million for the full year, down from a profit of $12 million last year.

BlackBerry chairman and CEO John Chen said the timing of several large government deals in BlackBerry’s cybersecurity business unit was pushed back into the second half of the quarter, but it will likely continue until the end of the current fiscal year. is confident that it will be completed.

This report by The Canadian Press was first published on March 30, 2023.

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