Shares of BlackBerry (NYSE:) rose 6% in after-hours trading Wednesday after the cybersecurity software maker reported better-than-expected earnings and revenue for the fiscal Q4 2024.
The company posted Q4 earnings per share (EPS) of $0.03, surpassing analysts’ predictions that anticipated a loss of $0.04 per share. Revenue also exceeded consensus estimates, reaching $173 million versus an expected $150.47 million.
The firm’s Internet of Things (IoT) division delivered the strongest-ever quarterly revenue of $66 million, topping the estimated $64.4 million.
BlackBerry reported an adjusted gross margin of 74.6%, a significant improvement from the 66.9% seen in the same quarter the previous year and higher than the 68.9% analysts had estimated.
Looking ahead, BlackBerry expects revenues for the fiscal Q1 2025 to be between $130 million and $138 million, missing the analysts’ forecast of $153.4 million.
For the full fiscal year 2025, the company anticipates a loss per share in the range of $0.07 to $0.03, while analysts were looking for a loss per share of $0.02.
BlackBerry’s revenue expectations for FY2025 are set between $586 million and $616 million, again falling short of the consensus projection of $654 million.
“BlackBerry delivered a solid finish to the fiscal year, setting a number of new records in the process,” said John J. Giamatteo, CEO of BlackBerry.
“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% year-over-year growth to approximately $815 million,” he added.
