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BlackBerry misses quarterly revenue estimates on virus hit

Canada’s BlackBerry Ltd reported quarterly revenue below Wall Street estimates on Wednesday, as weakness in the auto industry due to the COVID-19 crisis squeezed demand for its QNX software for cars. Total revenue for the first quarter ended May 31 fell 16.6% to $206 million from a year earlier. Analyst had expected revenue of $214.1 million, according IBES data from Refinitiv. Net loss widened to $636 million, or $1.14 per share, from $35 million, or 9 cents per share. Net loss includes impairment charge of $594 million related to its Spark reporting unit. (Reporting by Ayanti Bera in Bengaluru; Editing by Shinjini Ganguli) Our Standards:The Thomson Reuters Trust Principles.0 : 0narrow-browser-and-phonemedium-browser-and-portrait-tabletlandscape-tabletmedium-wide-browserwide-browser-and-largermedium-browser-and-landscape-tabletmedium-wide-browser-and-largerabove-phoneportrait-tablet-and-aboveabove-portrait-tabletlandscape-tablet-and-abovelandscape-tablet-and-medium-wide-browserportrait-tablet-and-belowlandscape-tablet-and-belowAppsNewslettersAdvertise with UsAdvertising GuidelinesCookiesTerms of UsePrivacyAll quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2020 Reuters. 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