BlackBerry third-quarter loss shrinks to US$11 million

WATERLOO, ONTARIO — BlackBerry Ltd. says it lost US$11 million in its third quarter, compared with a loss of $21 million a year earlier.

Revenue for the quarter totalled $143 million, down from $152 million during the same quarter last year.

Diluted loss per share came to two cents US, compared with five cents last year.

CEO John Giamatteo says the company saw a “significant inflection” in its third-quarter results.

He says profitability topped expectations thanks to strong revenue in the cybersecurity and Internet of Things divisions as well as a continued focus on cutting costs and driving efficiency.

Earlier this week, BlackBerry announced it had signed a deal to sell its Cylance cybersecurity business to Arctic Wolf.

This report by The Canadian Press was first published Dec. 19, 2024.

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The Canadian Press