BlackBerry significantly reduced quarterly losses

The Canadian company BlackBerry Limited, formerly known as Research In Motion (RIM), reported operations in the first quarter of fiscal 2022, which closed on May 31.

The total revenue for the three-month period was approximately $174 million. For comparison: a year earlier the company showed a higher result – $206 million.

Revenue in the segment of the Internet of Things (IoT) amounted to approximately $ 43 million. Another $ 107 million was brought by products for ensuring cybersecurity. Licensing revenue and other sources of income totaled $24 million.

Net losses amounted to $62 million, or 11 cents per share. A year earlier, BlackBerry lost $ 636 million, or $ 1.14 per share. Thus, the company was able to reduce financial losses by an order of magnitude within a year.

It is noted that against the background of the growing popularity of electrified and connected cars, the demand for the BlackBerry QNX software platform has increased. For example, the Volvo Group has chosen this operating system as the basis for its Volvo Dynamic Software Platform solution. And the Chinese WM Motor uses the BlackBerry QNX in the all-electric W6 crossover.

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Author: John Kessler
Graduated From the Massachusetts Institute of Technology. Previously, worked in various little-known media. Currently is an expert, editor and developer of Free News.
Function: Director
John Kessler

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