AUS
NZ
UK
CA
USA
IND
Highlights
- BlackBerry Limited (TSX:BB) stocks have been drawing investor attention following its Q2 earnings release.
- The cybersecurity stock shot up by about two per cent on Wednesday, September 22, before closing at C$ 12.21.
- The Canadian firm said that it raked in a revenue of US$ 175 million in the second quarter of fiscal 2022.
BlackBerry Limited (TSX:BB) stocks have been drawing investor attention following its Q2 earnings release. The cybersecurity stock climbed by about two per cent on Wednesday, September 22, before closing at C$ 12.21.
Before delving into its recent stock performance, let’s glance through BlackBerry’s second quarter results.
Also read: NanoViricides (NNVC) stock soars 63%. A COVID stock to buy?
BlackBerry Limited (TSX:BB) Q2 FY22 results
BlackBerry said that it raked in a revenue of US$ 175 million in the second quarter of fiscal 2022, which was significantly down for that of US$ 259 million in the same quarter a year ago.
Its Internet of Things (IoT) revenue amounted to US$ 40 million, with a gross margin of 83 per cent, while its Cyber Security revenue for Q2 FY22 was US$ 120 million, with a gross margin of 59 per cent.
The Waterloo, Ontario-based company’s net loss, which amounted to about US$ 23 million in Q2 FY21, has shot up to US$ 144 million in its latest quarter.
BlackBerry said that it lost 25 cents per share in the quarter ending August 31, 2021, as against that of four cents per share in the same period a year ago.
The smartphone-turned-cybersecurity company’s total cash, cash equivalents, short- and long-term investments stood at US$ 772 million in Q2 FY22, while its net cash from operating activities was US$ 12 million.
As per some data from EODHD/Others, BlackBerry was projected to see a net loss of 13 cents per share and a topline of US$ 163.5 million of revenues.
Also read: Shopify (TSX:SHOP) grew 846% in 3 years. A smart tech stock to buy?
BlackBerry Limited (TSX:BB) stock performance
Stocks of BlackBerry Limited climbed by nearly 86 per cent in the past one year, while dipping by about 24 per cent in the past three months.
This year, however, the cybersecurity stock has risen by almost 45 per cent.
BB stock is currently trending on the Toronto Stock Exchange (TSX) for a high 10-day average trading volume of 2.6 million. In comparison, Thursday’s session saw about 2.44 million shares of the Canadian tech company exchange hands.
Also read: 5 TSX financial stocks to watch as Libs plan corporate tax rate hike
Bottom line
BlackBerry said in its latest earnings report that it has appointed former McAfee president and CRO John Giamatteo as its cybersecurity segment’s president, effective October 4.
Commenting on his joining, Mr Giamatteo said that the threat of cyberattacks has “never been higher” than it in the present times. Keeping that in mind, BlackBerry could see some improvement going forward.
