BlackBerry stock ticks higher on better-than-expected results

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BlackBerry Ltd. shares roseate successful the extended league Tuesday aft the cybersecurity and IoT company’s quarterly results came successful amended than expected.

BlackBerry BB, +4.17% shares roseate 3% aft hours, pursuing a 4.2% emergence successful the regular league to adjacent astatine $9.25.

The institution reported third-quarter nett income of $74 million, oregon a nonaccomplishment of 5 cents a stock connected a diluted basis, compared with a nonaccomplishment of $130 million, oregon 23 cents a share, successful the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and different items, were break-even a share.

Revenue declined to $184 cardinal from $218 cardinal successful the year-ago quarter.

Analysts surveyed by FactSet had forecast a nonaccomplishment of 7 cents a stock connected gross of $173.6 million.

“In IoT, our QNX concern achieved a quarterly grounds for design-related revenues, performing stronger than expected contempt ongoing manufacture proviso concatenation headwinds,” said John Chen, BlackBerry main enforcement and chairman, successful a statement. “On the cybersecurity beforehand we saw further traction for our caller unified endpoint information merchandise launches with further head-to-head wins against different next-gen players.”

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