BlackBerry Ltd (NYSE:BB) stock fell 0.20% (As on September 28, 11:55:14 AM UTC-4, Source: Google Finance) after the company reported mixed results in its latest quarter. For its second quarter ended Aug. 31, BlackBerry reported a loss before costs such as stock compensation of $29 million, compared with a loss of $33 million in the same quarter of last year. Internet of Things revenue in the quarter came in at $51 million, up 28% year-over-year, and cybersecurity revenue dropped 8%, to $111 million. Software and services revenue, which includes IoT and cybersecurity, came in at $162 million, with licensing and other revenue rounding out total revenue at $6 million. Total cash, cash equivalents and investments sat at $669 million as of the end of the quarter, with net cash used by operating activities during the quarter coming to $23 million. Cybersecurity billings increased 15% sequentially to $102 million and grew 6% year-over-year in the first half of the fiscal year.
Further, highlights in the quarter included Volkswagen AG’s software company Cariad SE selecting BlackBerry QNX for its VW.OS and PATEO Inc., a Chinese connect car manufacturer, selecting QNX for its intelligent cockpit. Chinese electric car maker Hozon New Energy Automobile Co. Ltd. also selected QNX to be used in its NETA Auto range of electric vehicles.
On the cybersecurity side, BlackBerry has teamed up with LeapXpert Ltd. to collaborate on enabling the BlackBerry Dynamics platform to provide secure communications through leading messaging applications such as iMessage, WhatsApp and SMS.
Moreover, PATEO, a leading Chinese Tier 1, selects BlackBerry QNX for its intelligent cockpit, Pateo Connect+, to be mass produced in more than ten individual models across five automakers. NETA Auto (Hozon’s EV brand) selects BlackBerry QNX for the digital cockpit and ADAS sockets in the NETA S, next generation EV Sedan aimed at the Chinese market. BlackBerry and L-SPARK announce four smart mobility start-ups for their BlackBerry IVY connected car accelerator program
BB in the second quarter of FY 22 has reported the adjusted loss per share of 5 cents, beating the analysts’ estimates for the adjusted loss per share of 7 cents. The company had reported 4 percent fall in the adjusted revenue growth to $168 million in the second quarter of FY 22, missing the analysts’ estimates for revenue of $177.25 million.