Categories AlphaGraphs, Earnings, Technology
BlackBerry (BB) reports wider loss in Q1 but beats estimates
Given the uncertainty across the global economy, the company is not providing an outlook for fiscal 2021
BlackBerry Limited (NYSE: BB) reported a wider loss in the first quarter of 2021 due to the slowdown in the auto industry supply chain arising from the COVID-19 pandemic. The top-line dropped by 17% year-over-year. The bottom-line exceeded the analysts’ expectations while the top-line missed consensus estimates.
The bottom-line included non-cash, one-time goodwill impairment charge primarily related to the impairment of the BlackBerry Spark reporting unit, acquired intangibles amortization expense, stock compensation expense, and a charge related to the fair value adjustment on the debentures.
As expected earlier, the slowdown is expected to continue in the near future due to the temporary global auto production shutdowns and related slowdowns of auto sales. The macroeconomic environment has been undergoing changes on a daily basis and this has prompted BlackBerry to be cautious for fiscal 2021.
Take a look at our Technology articles here
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to