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Company News

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)

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