BlackBerry says cybersecurity revenue will be lower than expected
BNN Bloomberg
BlackBerry says it expects its fourth-quarter and full-year revenue for its cybersecurity business to be lower than expected as some large deals that were expected to close in the quarter were not completed in time.
BlackBerry executive chairman and chief executive John Chen says macro challenges were a key factor for the company's cybersecurity business unit, with elongated sales cycles in government causing some large deals to slip into later quarters.
The company, which keeps its books in U.S. dollars, also said it expects to take a one-time, non-cash charge of up to US$440 million in its fourth quarter related to its Spark security business.
In a preliminary look at its results for the quarter ended Feb. 28, BlackBerry says it expects total revenue of about US$151 million.
