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BlackBerry reports preliminary Q4 revenue $151M, consensus $168.45M
The Fly

BlackBerry reports preliminary Q4 revenue $151M, consensus $168.45M

BlackBerry’s results are expected to include a material non-cash, one-time goodwill impairment charge for the Spark reporting unit. The amount is currently being determined but is expected to be up to $440M. This assessment is required in accordance with accounting rules and is primarily driven by the broad-based stock market decline this past calendar year and corresponding impact on our market capitalization at the test date."Macro challenges were a key factor for BlackBerry’s Cybersecurity business unit this quarter, with elongated sales cycles in government causing some large deals to slip into later quarters," said John Chen, executive chairman and CEO, BlackBerry. "The IoT business unit closed the year strongly, and we expect to deliver year over year revenue growth of approximately 16%, in line with outlook. Given the current macro backdrop, BlackBerry’s management has taken proactive steps this quarter to both balance investments and manage costs to drive towards profitable growth."

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