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Blackberry (New York Stock Exchange:BB) stocks rose about 1% in extended trading on Wednesday after the Canadian technology company's strong fourth-quarter results beat mixed forecasts.
For the period ending Feb. 29, BlackBerry earned an adjusted $0.03 per share on $173 million in revenue, while cybersecurity revenue totaled $92 million, up 5% year over year. Internet of Revenue from all of this came in at $66 million during the period, slightly above the estimate of $64.4 million.
Analysts had expected an adjusted loss of $0.04 per share on $154.2 million in sales.
“We also took small but important steps forward for the Cybersecurity division, with ARR leveling off and even increasing 3% sequentially,” BlackBerry CEO John J. Giamatteo said in a statement. “At the corporate level, we are making good progress with efforts to separate divisions and drive profitability, and operating cash burn was more than halved sequentially this quarter.”
Looking ahead, BlackBerry said it expects first-quarter sales to be between $130 million and $138 million, below the $153.4 million analysts expected. On an adjusted basis, it expects to lose between $0.04 and $0.06 per share.
For the full year, BlackBerry said it expects revenue between $586 million and $616 million and expects to lose between $0.03 and $0.07 per share on an adjusted basis.
The company will host a conference call at 5:30 pm EST to discuss the results.
