BlackBerry Ltd says its Q2 revenue forecast is $2.7bn, down from $3.7 billion last quarter
Posted On July 18, 2021
BlackBerry Ltd said it would release its second-quarter profit on Wednesday and would report adjusted earnings per share for the year, excluding items such as restructuring and the impact of currency fluctuations.
The company reported a net loss of $1.5 billion on revenue of $9.3 billion.
Q2 profit will include an increase in net profit, the company said.
BlackBerry posted $1,955 million in profit for the quarter, which ended Dec. 31, and its outlook for the next 12 months is negative, according to analysts polled by FactSet.
The Canadian company posted a $2,700-million loss in the same period last year.
The BlackBerry 10 operating system has been on sale since 2012 and has become one of the hottest smartphones on the market.
The software giant said it sold more than 8 million units of the BlackBerry 10 device during the first quarter, including more than 2.4 million smartphones, as well as more than 1.5 million BlackBerry 10-powered smartphones.
Analysts polled by Thomson Reuters expected BlackBerry to report adjusted operating profit of $2 billion, excluding restructuring charges and currency fluctuations, and adjusted net profit of just $2 million.
BlackBerry is currently seeking an investment from a Chinese firm and has a debt load of $6.4 billion.
BlackBerry said it expects to use the proceeds from the sale of its stake in Symbian, a mobile operating system company, to fund the acquisition of a majority stake in Alcatel-Lucent, the French phone company.