The U.S.-listed shares of BlackBerry Ltd. took a 13.1% beating in midday trading Tuesday, after the Ontario-based security software company said it would...
The U.S.-listed shares of BlackBerry Ltd. BB CA:BB took a 13.1% beating in midday trading Tuesday, after the Ontario-based security software company said it would take a large impairment charge and provided revenue guidance that below Wall Street projections. The stock was headed for the worst one-day performance since it plunged 21.1% on Feb. 2, 2021.
The company said late Monday that its fiscal fourth-quarter results would include a goodwill impairment charge of up to $440 million for its Spark business. The company also said it expects fourth-quarter revenue of approximately $151 million, which was below the FactSet consensus at the end of February of $163.5 million. the company expects revenue for its cybersecurity business of about $88 million, which was below the FactSet consensus as of Feb. 28 of $109.
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