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The security software provider reported a better-than-expected loss and topped quarterly revenue estimates.
Chris Ratcliffe/Bloomberg
Shares of
BlackBerry
jumped Wednesday after the security software provider reported a better-than-expected loss and topped quarterly revenue estimates.
BlackBerry (ticker: BB) stock rallied 7.5% in the extended session. Shares closed up 2%, to $9.56, during regular trading.
The company reported a fiscal second-quarter net loss of $144 million, which amounts to 25 cents a share, compared with a loss of $23 million, or 4 cents a share, in the year-ago period.
Adjusted for the fair value of convertible debentures, among other things, BlackBerry reported a second-quarter loss of 6 cents a share.
Revenue fell to $175 million from $259 million a year ago.
The consensus estimate was for a loss of 7 cents a share on revenue of $166.8 million.
BlackBerry’s president and chief operating officer Tom Eacobacci plans to leave the company Oct. 29, the company said. BlackBerry said it had tapped John Giamatteo, a former McAfee executive, to be president and head of the cybersecurity business unit.
Write to Max A. Cherney at max.cherney@barrons.com
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