BlackBerry reports revenue up in first full quarter with Cylance
Revenue for former smartphone maker was up 16 per cent from same quarter last year
BlackBerry says its first quarter losses narrowed following its purchase of artificial intelligence and cyber security company Cylance last February.
BlackBerry Ltd. reported it had a $35-million US loss with $247 million of revenue in the first full quarter since it bought Cylance, which represents a new generation of technology for the company.
The Waterloo, Ont.-based company acquired Cylance, a California-based artificial intelligence and cyber security company, for $1.4 billion US.
BlackBerry, which reports in U.S. dollars, says its loss for the three months ended May 31 amounted to nine cents per diluted share, compared with a year-earlier loss of $60 million US or 11 cents per diluted share.
Revenue for the former smartphone maker was up 16 per cent from $213 million US in the same quarter last year.
On an adjusted basis, BlackBerry reported a profit of a penny per diluted share and revenue of $267 million US, up 23 per cent from a year ago.
Analysts had estimated BlackBerry would have one cent per share of adjusted earnings with $265 million US of revenue, according to Thomson Reuters Eikon.