Blackberry sees revenue up, but 3rd quarter loss as business split up

BlackBerry Ltd. lost US$21 million in its third quarter, which it spent working to split up its business.

The Waterloo, Ont.-based software company, which reports its earnings in U.S. dollars, says the loss for the period ended Nov. 30 compared with a net loss of US$4 million a year earlier.

The loss amounted to five cents per diluted share compared with a loss of nine cents per basic share a year prior.

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Financial markets data firm Refinitiv says analysts had expected the company to post a loss of five cents per basic share.

BlackBerry says its revenue for the third quarter was US$175 million, compared to US$169 million a year earlier.

Earlier this month, BlackBerry called off plans for an initial public offering of its Internet of Things business, but said it still plans to split that segment of the company from its cybersecurity division.