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BlackBerry forecast a 21.4 per cent decline in its second-quarter revenue due to weakness in the Canadian technology company’s cybersecurity segment, sending its US-listed shares nearly 10 per cent lower in extended trading on Wednesday.
In its preliminary results announcement for the quarter, the company said it expects revenue of about US$132 million, compared with US$168 million last year. Four analysts polled by LSEG expect BlackBerry to report sales of US$156.9 million.
“Given the product mix, delays in closing certain large deals are expected to impact revenue recognized in the quarter,” said BlackBerry’s Executive Chair and CEO, John Chen.
In August, media reports said private equity firm Veritas Capital made an offer to buy BlackBerry, months after the Canadian company began a strategic review.
The company expects revenue in its cybersecurity unit to be about US$80 million, lower than US$111 million last year.
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