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BlackBerry Limited (NYSE: BB ) has reported a net loss for the fourth quarter of 2023 compared to last year’s profit, as the technology company’s profits fell.
Total revenue fell to $151 million in the fourth quarter from $185 million in the corresponding period in 2022. The increase in IoT revenue was more than offset by weakness in two other operating segments.
Reflecting the weak top-line performance, the company reported a loss of $495 million or $0.85 per share for the February quarter, compared with a profit of $144 million in the year-earlier period. Adjusted loss, on a per share basis, was $0.02 per share, compared to earnings of $0.01 per share last year.
“As previously reported, BlackBerry’s Cybersecurity business unit saw the timing of several large government bids entering the quarter later, but we are confident that they will close this fiscal year,” said John Chen, CEO of BlackBerry.
Previous Performance
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