(Toronto) BlackBerry warned on Tuesday that its fourth-quarter and full-year revenue for its cybersecurity business would be lower than expected as some major transactions that were expected to close in the quarter did not close. on time.
BlackBerry Chairman and Chief Executive Officer John Chen said difficulties in the broader economy were a key driver for the company’s cybersecurity business unit. Indeed, he explained, the longer sales cycles on the government side are causing some important transactions to be postponed to later quarters.
BlackBerry also said it expects to take a one-time charge related to its Spark security business of up to $440 million to its fourth quarter results.
In a preliminary look at its results for the quarter ended Feb. 28, BlackBerry said it expects total revenue of about $151 million. Revenue from its IoT business is expected to be around US$53 million, while cybersecurity revenue is expected to be around US$88 million. Licensing and other revenue is expected to be approximately $10 million.
For its full fiscal year, BlackBerry expects to post total revenue of approximately $656 million, with IoT revenue of approximately $206 million and cybersecurity revenue of approximately $418 million. million US. Licensing and other revenue for the year is expected to be approximately US$32 million.
BlackBerry is due to release its full financial results on March 30, when it will also provide its outlook for the new fiscal year.