BlackBerry Shares Down 2% Despite Q2 Beat

BlackBerry (NYSE: BB) shares fell more than 2% after-hours despite the company’s reported Q2 results, with EPS of ($0.05) coming in better than the consensus estimate of ($0.07). Revenue was $168 million, beating the consensus estimate of $161.45 million.

"Our IoT business continues to gain market share, and design-phase revenue remained at near-record levels,” said John Chen, Executive Chairman & CEO of BlackBerry. IoT business revenue came in at $51 million and Cybersecurity revenue came in at $111 million.

The company is expected to discuss its full 2023-year outlook during its earnings conference call.

By Davit Kirakosyan

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