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.

BlackBerry (BB) reports Q1 2021 earnings

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

SNAP Earnings: All you need to know about Snap’s Q2 2021 earnings results

Snap Inc. (NYSE: SNAP) reported second quarter 2021 earnings results today. Revenues increased 116% year-over-year to $982 million. Net loss amounted to $151.6 million, or $0.10 per share, compared to

TWTR Earnings: Twitter swings to profit in Q2 as revenues surge 74%; results beat

Microblogging platform Twitter, Inc. (NYSE: TWTR) Thursday reported a profit for the second quarter of fiscal 2021, compared to a loss last year. Both earnings and revenue came in above

Earnings Infographic: Intel (INTC) Q2 2021 profit, revenue beat estimates

Intel Corporation (NASDAQ: INTC) Thursday reported financial results for the second quarter of 2021. The revenue was reported at $19.6 billion compared to $19.7 billion in the previous year's second

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top