BlackBerry Q4 Profit In Line With Street View, Revenues Miss; Shares Down

(RTTNews) - Shares of BlackBerry Ltd. (BB, BB.TO) slipped over 4% in the extended session Tuesday after the company reported its fourth-quarter results, with adjusted earnings in line with Wall Street analysts' estimates, while revenues fell short of expectations.

BlackBerry reported fourth-quarter loss of $315 million or $0.56 per share, wider than last year's loss of $41 million or $0.07 per share.

Excluding items, BlackBerry reported adjusted earnings of $16 million or $0.03 per share for the period, below last year's profit of $51 million or $0.09 per share. Analysts polled by Thomson Reuters expected earnings of $0.03 per share for the quarter.

Revenues for the quarter dropped to $210 million from $282 million last year. Adjusted revenues were $215 million, compared to $291 million last year. Analysts had a consensus revenue estimate of $245.11 million.

"This has been an exceptional year to navigate, however we are pleased with QNX's continued recovery, despite new challenges from the global chip shortage. QNX now has design wins with 23 of the world's top 25 electric vehicle OEMs and remains on course to return to a normal revenue run rate by mid-fiscal 2022," said CEO John Chen.

BB closed Tuesday's trading at $9.34, up $0.14 or 1.52%, on the Nasdaq. The stock, however, slipped $0.49 or 5.25% in the after-hours trading.