June 26, 2019 / 2:56 PM / 5 months ago

BUZZ-BlackBerry falls after posting weaker-than-expected IoT revenue

(Updates)

** Toronto-listed shares of Canadian software maker BlackBerry Ltd down ~8% at C$9.93

** Co reports weaker-than-expected revenue for its Internet of Things segment: IoT adj rev $137 mln vs. analysts’ expectations $151.4 mln

** Co’s U.S.-listed shares down 9.3% at $7.52

** Q1 adj rev up 23% at $267 mln

** Q1 net loss narrowed to $35 mln from $60 mln

** 4 of 12 brokerages rate the U.S. stock “buy” or higher, 6 “hold” and 2 “sell”; their median PT is $10.50 - Refinitiv data

** U.S.-listed shares up ~6% YTD, while Toronto stock have risen ~2.2% (Reporting by Shradha Singh in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below