BlackBerry Ltd missed Wall Street estimates for fourth-quarter income on, even as the business said product sales of its QNX car software showed improvement Tuesday.
U.S.-listed shares of BlackBerry, which offers security computer software to businesses and governments as well as infotainment pc software to carmakers, fell nearly 4% in extended trading, Meta News saw.
Demand for the business’s QNX automobile software, used by automakers such as for example Volkswagen and Ford Motor, have been under pressure due to a slow recovery in the U.S. auto industry amid an international semiconductor shortage and weakness that is pandemic-related.
“This was an year that is exceptional navigate, nevertheless our company is pleased with QNX’s continued recovery, despite brand new challenges through the international chip shortage,” said Chief Executive Officer John Chen.
BlackBerry was additionally one of many so-called “stonks” that received major attention from investors after having a social-media driven retail squeeze madness that is quick. The term “stonk” is used to explain shares with convoluted prospects which are popular with retail traders on online discussion boards.
The business’s U.S.-listed stocks had gained nearly 41% up to now this present year.
Income dropped to $210 million within the quarter that is 4th Feb. 28, below analysts’ expectations of $245.1 million, in accordance with IBES information from Refinitiv.
Excluding items, the ongoing business reported a profit of 3 cents per share, in accordance with analysts’ quotes.
Net loss widened to $315 million, or 56 cents per share, into the quarter that is 4th $130 million, or 23 cents per share, per year early in the day. BlackBerry Ltd missed Wall Street estimates for fourth-quarter.