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9/22, 11:17 PM (Source: TeleTrader)
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BlackBerry's Q2 revenue drops 32% YoY to $175M

BlackBerry Ltd. reported on Wednesday its revenue in the second quarter of fiscal 2022 stood at $175 million, a 32% decrease year-over-year. The figure still beat expectations which put the Q2 revenue at around $163 million. Diluted loss per share was at $0.25, while net loss stood at $144 million.

"Revenue for all businesses beat expectations this quarter. The Cyber Security business unit delivered robust sequential billings and revenue growth and the IoT business unit performed well in the face of global chip shortage pressures," CEO John Chen said.

The company also announced it has appointed John Giamatteo as president of the Cyber Security business unit, effective October 4. Meanwhile, BlackBerry President and COO Tom Eacobacci will step down on October 29 "to pursue other opportunities."

BlackBerry shares jumped 9.62% in after-market trade following the earnings release.

Breaking the News / MD