BlackBerry expects Q2 revenue to total US$132 million

TORONTO — BlackBerry Ltd. expects revenue in its second quarter to total about US$132 million as it says it faced delays in closing certain large deals and lowered its full-year revenue outlook for its internet-of-things (IoT) business.

The preliminary estimate comes as the company continues a review of strategic alternatives for its portfolio of businesses that could see the company break up its operations.

For its second quarter, which ended Aug. 31, BlackBerry says it expects IoT revenue of about US$49 million, while cybersecurity revenue is expected to be about US$80 million. Licensing and other revenue is expected total about US$3 million for the quarter.

For its full year, BlackBerry says revenue for its IoT business unit is now expected to be in a range of US$225 million to US$240 million due to the potential impact of the rescheduling of software development programs and production schedules at some large automakers and uncertainty in the economy. In May, the company forecast IoT revenue of US$240 million to US$250 million for its full year.

The company reiterated its full-year revenue guidance for both its cybersecurity and licensing and other segments.

BlackBerry is expected to report its full results for its second quarter on Sept. 28.

This report by The Canadian Press was first published Sept. 7, 2023.

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The Canadian Press