BlackBerry loses US$42 million in second quarter

BlackBerry Ltd. says it lost US$42 million in the second quarter of its 2024 fiscal year, compared to a loss of US$54 million in the same period last year.

The Waterloo, Ont.-based tech company, which reports its earnings in U.S. dollars, says the loss works out to seven cents per diluted share.

BlackBerry says its revenue for the second quarter was $132 million, compared to $168 million in the prior year's quarter.

While revenue from the company's cybersecurity segment declined by 40 per cent year-over-year, revenue from its IoT segment increased by four per cent.