BlackBerry Ltd NASDAQ: BB smartfony

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BlackBerry (BB) - Get Report rose in late trade Thursday after the cybersecurity company and meme stock favorite posted a smaller-than-expected first-quarter loss.

Shares of the Waterloo, Ontario, company were up as much as 1.5% to $12.88 in after-hours trading. The stock is up more than 90% year-to-date.

BlackBerry reported a loss of $62 million, or 11 cents a share. The non-GAAP loss was 5 cents a share. Revenue totaled $174 million.

The FactSet consensus called for a loss of 7 cents a share and sales of $209 million.

Cybersecurity revenue was $107 million, down 10%, while Internet of Things revenue rose 48.3% to $43 million.

BlackBerry shareholders on the company's annual meeting on Wednesday voted to keep Prem Watsa as lead director despite complaints from proxy advisory firm Glass Lewis & Co. and analyst Dorsey Gardner, Bloomberg reported.

Glass Lewis criticized Watsa for a misalignment between executive pay and performance in recent years.

Gardner cited conflicts of interest between Watsa’s board duties and his position as a shareholder as he controls Fairfax Financial Holdings, BlackBerry’s largest investor.

BlackBerry has been a meme stock favorite and, earlier this month, shares surged to a nine-year high as Reddit users continued to talk up the company.

In April, the software provider said Volvo had selected its QNX architecture to power its heavy-duty trucks, buses, and construction equipment.

The company said on Thursday that BlackBerry QNX is now embedded in more than 195 million vehicles, up from over 175 million vehicles last year.

In March, BlackBerry missed Wall Street's fourth-quarter revenue forecasts.

In January, BlackBerry settled its lawsuit with Facebook (FB) - Get Report, sold its patents to Huawei, and signed a deal with Amazon (AMZN) - Get Report.

BlackBerry had sued Facebook in 2018 in California, charging that the social media network and its WhatsApp and Instagram subsidiaries infringed on BlackBerry messaging app patents.

BlackBerry, which once held a dominant position in cell phones before the ascendancy of Apple's (AAPL) - Get Report iPhones, has remade itself as a tech-security and software company in recent years.

https://www.thestreet.com/investing/bla ... pectations

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Reuters) - BlackBerry (NYSE:BB) Ltd is pulling the plug on service for its once ubiquitous business smartphones, which were toted by executives, politicians and legions of fans in the early 2000s.

The move marks the end of an era as the phones, which sported a tiny QWERTY physical keyboard, pioneered push email and the BBM instant messaging service.

Former U.S. President Barack Obama, one of its most celebrated users, made headlines in 2016 when he was asked to give up his BlackBerry and replace it with an unnamed smartphone.

Blackberry (TSX:BB) lost favor with users with the advent of Apple (NASDAQ:AAPL)'s touchscreen iPhones and rival Android devices. In recent years, the company pivoted to making cybersecurity software and embedded operating systems for cars.

Social media was alight with tributes. One Twitter (NYSE:TWTR) user reminisced it was a "fabulous machine" and hoped the company's phones would be resurrected.

In a document published in 2020, the company said it would take steps to decommission legacy services for BlackBerry 10 and BlackBerry OS operating systems and added devices running on them would no longer be supported and may not be able to receive or send data, make phone calls or send messages reliably.

A U.S. judge on Monday rejected the company's bid to dismiss a lawsuit claiming it defrauded shareholders by inflating the success and profitability of smartphones using BlackBerry 10 OS, and said the class-action case could go to trial this fall.

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(Reuters) - BlackBerry (NYSE:BB) posted a surprise profit for the first quarter on Wednesday as its cybersecurity business benefited from higher client spending, while its enterprise software continued to gain traction in automotive sector.

U.S.-listed shares of the company rose 5.79% in extended trading.

The Canadian technology company is banking on resilient demand for its cybersecurity products on rising security threats in the information technology sector.

BlackBerry reported a surprise profit of 6 cents per share for the quarter ended May 31, while analysts were expecting a loss of 5 cents per share.

Its total revenue of $373 million topped analysts' average estimate of $160.4 million, according to IBES data from Refinitiv.

Revenue in the cybersecurity business unit rose 5.5% sequentially to $93 million, while revenue from licensing and other services came in at $235 million, majorly comprising of proceeds from patent sale.

BlackBerry, which went public in 1997 and soon became popular for its ubiquitous business smartphones, shut its flagship business last year and has since been trying to sell its legacy patents related to its mobile devices.

In March, it signed a deal to sell patents, primarily related to its mobile devices, to Malikie Innovation Limited for up to $900 million.

Waterloo, Canada-based BlackBerry earlier had announced its plans to conduct a review of strategic alternatives, including possible separation of its core businesses - cybersecurity and software systems.

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BlackBerry (NYSE:BB) Ltd. is gearing up for an Initial Public Offering (IPO) in June for its Internet of Things business. This will lead to the creation of two distinct units within the company: cybersecurity and internet of things. The decision is part of BlackBerry's broader strategic alternatives.