BlackBerry sees Q2 revenue $132M, consensus $156.85M

Sees Q2 IoT revenue $49M, Cybersecurity revenue $80M, Licensing and Other revenue $3M. “Like many software companies, our Cybersecurity business has experienced elongated sales cycles, particularly in BlackBerry’s core government vertical, where we have a strong market position. Given the product mix, delays in closing certain large deals are expected to impact revenue recognized in the quarter. However, we expect to close these deals this fiscal year and are therefore reiterating the full-year outlook for the Cybersecurity business unit given previously,” said John Chen, CEO. “Our IoT business unit continues to capitalize on its large market opportunity and multi-year secular tailwinds by securing new design wins at a strong rate. However, in the short term we are seeing some automakers shift the start of software development programs, as well as production schedules, and therefore we’ve revised our current year revenue outlook, but not our long-term targets.”