Submitted by Antony Savvas on March 7, 2023
BlackBerry says IoT services business was up last year, but security services saw a sales fall for the year ended 28 February, 2023.
John Chen, executive chairman and CEO of BlackBerry, said: "The IoT business unit closed the year strongly, and we expect to deliver year-over-year revenue growth of approximately 16%.
“Given the current macro backdrop, BlackBerry's management has taken proactive steps this quarter to both balance investments and manage costs to drive towards profitable growth."
Preliminary fourth quarter results saw total company revenue at around $151m, with IoT revenue expected to be approximately $53m.
Cyber security sales are expected to be around $88 million, with licensing and other revenue expected to come in at about $10m.
For the year, total revenue is expected to be approximately $656 million, with IoT revenue at $206m and cyber security sales at $418m. Licensing and other revenue will be about $32m.
The company said security sales were lower “primarily due to certain large government deals under negotiation not closing in the quarter, but slipping into fiscal year 2024”.
The final audited results will be posted on 30 March, 2023.