BlackBerry Limited reported its financial results for the second quarter ended August 31, 2024. The company saw an increase in revenue to $145 million, up from $132 million in the same quarter the previous year, marking a $13 million improvement. Gross margin also rose to $94 million from $85 million, while operating expenses decreased from $132 million to $115 million. Despite these improvements, BlackBerry experienced a net loss of $19 million, or $0.03 per share, which is an improvement from the $42 million net loss, or $0.07 per share, reported in the prior year's quarter. The company's business development efforts have been focused on its two core divisions, Cybersecurity and IoT, with significant achievements in product innovation and strategic partnerships. BlackBerry QNX added QNX Containers, CylanceMDR Pro was launched, and CylanceENDPOINT...Show More

BlackBerry Limited reported its financial results for the second quarter ended August 31, 2024. The company saw an increase in revenue to $145 million, up from $132 million in the same quarter the previous year, marking a $13 million improvement. Gross margin also rose to $94 million from $85 million, while operating expenses decreased from $132 million to $115 million. Despite these improvements, BlackBerry experienced a net loss of $19 million, or $0.03 per share, which is an improvement from the $42 million net loss, or $0.07 per share, reported in the prior year's quarter. The company's business development efforts have been focused on its two core divisions, Cybersecurity and IoT, with significant achievements in product innovation and strategic partnerships. BlackBerry QNX added QNX Containers, CylanceMDR Pro was launched, and CylanceENDPOINT received recognition from Gartner Peer Insights. Partnerships with ETAS and AMD were announced to enhance software-defined vehicles and robotics industry precision, respectively. Looking ahead, BlackBerry is focusing on enhancing operational focus and flexibility, driving profitability, and optimizing shareholder value through the virtual separation of its principal business units. The company expects revenue and adjusted EBITDA growth in the upcoming quarters of fiscal 2025 and has revised its total revenue expectations for the fiscal year to $591 million to $616 million, reflecting strong performance in the first half of the year.