BlackBerry warns of decrease income for cybersecurity enterprise amid ‘macro’ challenges

BlackBerry Ltd. says it expects its fourth-quarter and full-year income for its cybersecurity enterprise to be decrease than anticipated as some massive offers that had been anticipated to shut within the quarter weren’t accomplished in time.

BlackBerry government chairman and chief government John Chen says “macro” challenges had been a key issue for the corporate’s cybersecurity enterprise unit, with elongated gross sales cycles in authorities inflicting some massive offers to slide into later quarters.

The corporate, which retains its books in U.S. {dollars}, additionally stated it expects to take a one-time, non-cash cost of as much as US$440 million in its fourth quarter associated to its Spark safety enterprise.

In a preliminary have a look at its outcomes for the quarter ended Feb. 28, BlackBerry says it expects whole income of about US$151 million. Income from its web of issues (IoT) enterprise is predicted to be about US$53 million, whereas cybersecurity income is predicted to be about US$88 million. Licensing and different income is predicted to be roughly US$10 million.

For its full monetary yr, BlackBerry says it expects whole income of about US$656 million with IoT income of about US$206 million and cybersecurity income of about US$418 million. Licensing and different income for the complete yr is predicted to be about US$32 million.

BlackBerry is scheduled to launch its full monetary outcomes on March 30 when it’ll additionally present its outlook for the yr.