Business / Finance

BlackBerry expects to report drop in quarterly revenue, shares dive

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2023-09-06 22:34:40  • 1 min

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BlackBerry forecast a 21.4 per cent decline in its second-quarter revenue due to weakness in the Canadian technology company's cybersecurity segment, sending its U.S.-listed shares nearly 10 per cent lower in extended trading on Wednesday.

In its preliminary results announcement for the quarter, the company said it expects revenue of about $132 million, compared with $168 million last year. Four analysts polled by LSEG expect BlackBerry to report sales of $156.9 million.

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