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BlackBerry Gains After-Hours Following Mixed Q1 Report

BlackBerry Ltd (NYSE: BB) reported quarterly earnings of 2 cents per share Wednesday, which beat the analyst consensus estimate by a penny.

Benzinga · -

BlackBerry Ltd (NYSE:BB) reported quarterly earnings of 2 cents per share Wednesday, which beat the analyst consensus estimate by a penny.

The company reported quarterly sales of $214 million, which missed the analyst consensus estimate of $216.8 million by 1.29%. This is a 19.85% decrease over sales of $267 million the same period last year.

"BlackBerry QNX was impacted by macro headwinds in the auto and other embedded sectors but we are starting to see signs of a recovery," CEO John Chen said in a statement. 

"On the enterprise front, we saw good demand from customers who recognized the necessity for BlackBerry's security, business continuity, and productivity solutions in an increasingly remote working environment. BlackBerry is capitalizing on the secular trends of securing and connecting endpoints."

BlackBerry shares lost 3.53% to end Wednesday's session at $4.92 and was up 1.83% at $5.01 during the after-hours session at the time of publication. 

The stock has a 52-week high of $8.50 and a 52-week low of $2.70 per share.

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Photo courtesy of BlackBerry.