(Reuters) – BlackBerry forecast a 21.4% decline in its second-quarter income attributable to weak spot within the Canadian expertise firm’s cybersecurity section, sending its U.S.-listed shares almost 10% decrease in prolonged buying and selling on Wednesday.
In its preliminary outcomes announcement for the quarter, the corporate stated it expects income of about $132 million, in contrast with $168 million final 12 months. 4 analysts polled by LSEG count on BlackBerry to report gross sales of $156.9 million.
“Given the product combine, delays in closing sure giant offers are anticipated to affect income acknowledged within the quarter,” stated BlackBerry’s Govt Chair and CEO, John Chen.
In August, media stories stated personal fairness agency Veritas Capital made a suggestion to purchase BlackBerry, months after the Canadian firm started a strategic evaluate.
The corporate expects income in its cybersecurity unit to be about $80 million, decrease than $111 million final 12 months.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Modifying by Devika Syamnath)