BlackBerry reported better-than-expected fourth quarter earnings as its software and services revenue was up 13% from a year ago.
On a non-GAAP basis, BlackBerry reportedfourth quarter earningsof 9 cents a share and 7 cents a share GAAP. BlackBerry reported GAAP revenue of $282 million, up 13% from a year ago. Non-GAAP fourth quarter revenue for BlackBerry was $287 million.
Wall Street was expecting BlackBerry to report fourth quarter non-GAAP earnings of 4 cents a share on revenue of $296.3 million.
CEO John Chen said BlackBerry had a solid fiscal 2020 and launched 30 new products. Chen also said the company's security business and Spark platform for the Internet of things held promise. BlackBerry, formerly known for its mobile devices, has transitioned to be a software company with assets like QNX, Cylance and Spark.
For fiscal 2020, BlackBerry reported a net loss of 32 cents a share on revenue of $1.04 billion, up 15% from a year ago.
BlackBerry's Cylance security unit had revenue of $43 million for the three months ended Feb. 29 with its IoT division delivering $127 million.
The company ended the quarter with cash and equivalents of $990 million.
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