BlackBerry Restricted (NYSE: BB) has reported a web loss for the fourth quarter of 2023 in comparison with a revenue final 12 months, because the tech agency’s revenues declined.
Whole revenues decreased to $151 million within the fourth quarter from $185 million within the corresponding interval of 2022. A rise in IoT revenues was greater than offset by weak point within the different two working segments.
Reflecting the weak top-line efficiency, the corporate reported a lack of $495 million or $0.85 per share for the February quarter, in comparison with a revenue of $144 million within the prior-year interval. Adjusted loss, on a per-share foundation, was $0.02 per share, in comparison with earnings of $0.01 per share final 12 months.
“As beforehand communicated, BlackBerry’s Cybersecurity enterprise unit noticed the timing of quite a few giant authorities offers slip into later quarters, however we’re assured that they’ll shut this fiscal 12 months,” stated John Chen, CEO of BlackBerry.
