(Reuters) - Canada's BlackBerry Ltd ignored Wall road estimates for fourth-quarter income on Tuesday, even as the business mentioned sales of its QNX car software showed improvement.
U.S.-listed shares of BlackBerry, which sells protection application to corporations and governments in addition to infotainment application to carmakers, fell almost 4% in extended trading.
Demand for the business's QNX vehicle utility, used by way of automakers comparable to Volkswagen and Ford Motor, had been beneath pressure as a result of a gradual recovery in the U.S. auto trade amid a world semiconductor shortage and pandemic-linked weak spot.
"This has been an exceptional 12 months to navigate, despite the fact we're joyful with QNX's persevered restoration, despite new challenges from the international chip scarcity," pointed out Chief government Officer John Chen.
BlackBerry turned into additionally some of the so-referred to as "stonks" that got most important attent ion from investors after a social-media pushed retail short squeeze frenzy. The time period "stonk" is used to describe shares with convoluted possibilities which are universal with retail traders on on-line boards.
The enterprise's U.S.-listed shares had received nearly forty one% thus far this year.
profits fell to $210 million in the fourth quarter ended Feb. 28, under analysts' expectations of $245.1 million, in response to IBES records from Refinitiv.
except for objects, the enterprise said a earnings of 3 cents per share, based on analysts' estimates.
internet loss widened to $315 million, or 56 cents per share, within the fourth quarter from $one hundred thirty million, or 23 cents per share, a year earlier.
(Reporting with the aid of Tiyashi Datta in Bengaluru; enhancing by means of Krishna Chandra Eluri)
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