BlackBerry sees FY23 revenue $656M, consensus $674.73M

The company said, "Fourth quarter and full-year fiscal year 2023 revenue for BlackBerry’s Cybersecurity business unit is expected to be lower than the outlook provided during our Q3 FY23 earnings call, primarily due to certain large government deals under negotiation not closing in the quarter, but rather slipping into fiscal year 2024. BlackBerry has seen an elongation in deal cycles in the government vertical, including additional deal reviews and approvals. Given the anticipated product mix of the slipped deals, it is expected that this causes a significant impact on in-quarter revenue recognition."