BlackBerry Reported Earnings. Here’s What To Know.

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The security program service provider documented a much better-than-expected reduction and topped quarterly profits estimates.


Chris Ratcliffe/Bloomberg

Shares of

BlackBerry

jumped Wednesday soon after the safety software package provider claimed a far better-than-predicted reduction and topped quarterly earnings estimates.

BlackBerry (ticker: BB) inventory rallied 7.5% in the prolonged session. Shares closed up 2%, to $9.56, throughout typical investing.

The corporation noted a fiscal next-quarter net decline of $144 million, which quantities to 25 cents a share, when compared with a decline of $23 million, or 4 cents a share, in the year-in the past period of time.

Adjusted for the fair value of convertible debentures, between other points, BlackBerry documented a 2nd-quarter loss of 6 cents a share.

Profits fell to $175 million from $259 million a calendar year in the past.

The consensus estimate was for a reduction of 7 cents a share on profits of $166.8 million.

BlackBerry’s president and chief running officer Tom Eacobacci strategies to depart the business Oct. 29, the enterprise explained. BlackBerry claimed it had tapped John Giamatteo, a previous McAfee executive, to be president and head of the cybersecurity business enterprise unit.

Publish to Max A. Cherney at max.cherney@barrons.com