WELL Health
Trending >

BlackBerry keeps “Hold” rating at RBC

BlackBerry

The most recent quarterly results from BlackBerry (BlackBerry Stock Quote, Chart, News, Analysts, Financials NYSE:BB) have done nothing to win over RBC analyst Paul Treiber.

On April 3, BB reported its Q4 and fiscal 2024 results. In the fourth quarter, the company posted Adjusted EBITDA of $21.0-million on revenue of $173.0-million.

“BlackBerry delivered a solid finish to the fiscal year, setting a number of new records in the process,” said CEO John J. Giamatteo. “Despite industry delays to automotive software development programs, our IoT division delivered its strongest ever quarter for revenue, as well as its best year for adding new QNX royalty backlog from design wins that resulted in 27-per-cent year-over-year growth to approximately $815-million. We also took small, but important steps forward for the cybersecurity division, with ARR stabilizing and even increasing by 3 per cent sequentially. At a corporate level, we are making good progress with efforts to both separate the divisions and drive towards profitability, and operating cash usage more than halved sequentially this quarter.”

On April 5, Treiber maintained his “Hold” rating and price target of (US) $3.00 on BlackBerry, a shade above Thursday’s closing price of $2.88.

We Hate Paywalls Too!

At Cantech Letter we prize independent journalism like you do. And we don't care for paywalls and popups and all that noise That's why we need your support. If you value getting your daily information from the experts, won't you help us? No donation is too small.

Make a one-time or recurring donation

About The Author /

insta twitter facebook

Comment