AP
(Reuters) – Canada’s BlackBerry Ltd reported a fall in first quarter revenue that missed estimates as it received fewer orders from its enterprise customers, sending the company’s U.S.-listed shares down 6 percent in premarket trading.
The company said it got more than 3,000 orders from enterprise customers in the quarter, down from over 3,500 orders it got in the fourth quarter.
BlackBerry has focused on its software portfolio with a number of recent acquisitions and is betting on its offerings for the healthcare and automotive industries to fuel growth.
The company reported a profit of $ 671 million, or $ 1.23 per share, for the quarter ended May 31, compared with a loss of $ 670 million, or $ 1.28 per share, a year earlier. (http://blck.by/2sJnsFS)
The quarter included a $ 940 million arbitration payment from U.S. chipmaker Qualcomm Inc.
Revenue fell to $ 235 million from $ 400 million. On an adjusted basis, the company reported revenue of $ 244 million, missing analysts’ estimates of $ 264.51 million, according to Thomson Reuters I/B/E/S.
Excluding items, the company earned 2 cents per share. Analysts on average had expected the company to break even.
BlackBerry’s U.S.-listed shares fell 6.1 percent to $ 10.39 before the bell, after earlier rising 3.5 percent. (Reporting by Narottam Medhora in Bengaluru; Editing by Shounak Dasgupta)
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