(Reuters) – BlackBerry forecast a 21.4% decline in its second-quarter income as a result of weak point within the Canadian expertise firm’s cybersecurity section, sending its U.S.-listed shares almost 10% decrease in prolonged buying and selling on Wednesday.
In its preliminary outcomes announcement for the quarter, the corporate stated it expects income of about $132 million, in contrast with $168 million final yr. 4 analysts polled by LSEG anticipate BlackBerry to report gross sales of $156.9 million.
“Given the product combine, delays in closing sure giant offers are anticipated to influence income acknowledged within the quarter,” stated BlackBerry’s Govt Chair and CEO, John Chen.
In August, media stories stated personal fairness agency Veritas Capital made a proposal to purchase BlackBerry, months after the Canadian firm started a strategic overview.
The corporate expects income in its cybersecurity unit to be about $80 million, decrease than $111 million final yr.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Modifying by Devika Syamnath)