BlackBerry, the Canadian technology company, has forecasted a 21.4% decline in second-quarter revenue due to weak performance in its cybersecurity segment. The company expects revenue of about $132 million, compared to $168 million last year. This decline is attributed to delays in closing certain large deals; According to the Executive Chair and CEO, John Chen.
The company’s cybersecurity unit is expected to report $80 million in Revenue, lower than the $111 million last year. The lower Revenue in the cybersecurity unit is due to some Large government deals not closing in the quarter. The company also lowered its guidance for its IoT unit due to production schedule changes of certain automakers.
BlackBerry’s shares listed in the US dropped by almost 10% in extended trading on Wednesday, following the company’s announcement of preliminary fiscal second-quarter revenue, which fell below the analysts’ anticipated estimates. The stock slid down more than 7% in after-hours trading, after decreasing by 0.7% at Wednesday’s market close. However, the shares have surged by 70% this year.
In August, private equity firm Veritas Capital made an offer to buy BlackBerry, months after the Canadian company began a strategic review.
The Licensing and Other business unit revenue for the second quarter is expected to be about $3 million.
BlackBerry Short (Sell)
Enter At: 5.44
All information on this website is of a general nature. The information is not adapted to conditions that are specific to your person or entity. The information provided can not be considered as personal, professional or legal advice or investment advice to the user.
Signal Mastermind Signals is not represented as a registered investment consultant or brokerage dealer nor offers to buy or sell any of the financial instruments mentioned in the service offered.
While Signal Mastermind Signals believes that the content provided is accurate, there are no explicit or implied warranties of accuracy. The information provided is believed to be reliable; Signal Mastermind Signals does not guarantee the accuracy or completeness of the information provided. Third parties refer to Signal Mastermind Signals to provide technology and information if a third party fails, and then there is a risk that the information may be delayed or not delivered at all.
All information and comments contained on this website, including but not limited to, opinions, analyzes, news, prices, research, and general, do not constitute investment advice or an invitation to buy or sell any type of instrument. Signal Mastermind Signals assumes no responsibility for any loss or damage that may result, directly or indirectly, from the use or dependence on such information.
All information contained on this web site is a personal opinion or belief of the author. None of these data is a recommendation or financial advice in any sense, also within the meaning of any commercial act or law. Writers, publishers and affiliates of Signal Mastermind Signals are not responsible for your trading in any way.
The information and opinions contained in the site are provided for information only and for educational reasons, should never be considered as direct or indirect advice to open a trading account and / or invest money in Forex trading with any Forex company . Signal Mastermind Signals assumes no responsibility for any decisions taken by the user to create a merchant account with any of the brokers listed on this website. Anyone who decides to set up a trading account or use the services, free of charge or paid, to any of the Broker companies mentioned on this website, bears full responsibility for their actions.
Any institution that offers a service and is listed on this website, including forex brokers, financial companies and other institutions, is present only for informational purposes. All ratings, ratings, banners, reviews, or other information found for any of the above-mentioned institutions are provided in a strictly objective manner and according to the best possible reflection of the materials on the official website of the company.
Forex/CFD trading is potentially high risk and may not be suitable for all investors. The high level of leverage can work both for and against traders. Before each Forex/CFD investment, you should carefully consider your goals, past experience and risk level. The opinions and data contained on this site should not be considered as suggestions or advice for the sale or purchase of currency or other instruments. Past results do not show or guarantee future results.
Neither Signal Mastermind Signals nor its affiliates ensure the accuracy of the content provided on this Site. You explicitly agree that viewing, visiting or using this website is at your own risk.