Blackberry falls on gloomy annual revenue forecast

BlackBerry

02/04/2025 13:25

** U.S.-listed shares of cybersecurity company Blackberry's BB.TO, BB.N shares fall 4% to $3.4 in premarket trading

** The company forecast drop in revenue for FY ending February 2026 vs FY25 as it struggles with weak demand for cybersecurity services from clients amid economic uncertainty

** BB expects cybersecurity unit to report annual revenue between $230 million and $240 million, lower than the $272.6 million in the previous financial year

** BlackBerry said it completed the sale of the Cylance business, which uses machine learning to preempt security breaches, to Arctic Wolf for $160 million

** Up to last close, stock had fallen 1.3% YTD

(Reporting by Kritika Lamba in Bengaluru)

((Kritika.Lamba@thomsonreuters.com))