WATERLOO, Ont. – BlackBerry Ltd. recorded a net loss of 636 million US dollars in the first quarter ended may 31, as it recorded a goodwill impairment charge non-cash accounting related to its unit BlackBerry Spark.
The company, which reports in u.s. currency, said that the loss amounted to 1.14 cents per share.
This included an impairment of goodwill of $ 594 million primarily related to its unit operating BlackBerry Spark, which offers more options to cyber security tailored to businesses.
The chief financial officer, Steve Rai, told analysts that the impairment was due to the general economic decline and its impact on the market capitalization of BlackBerry.
Revenues amounted to $ 206 million, down from $ 247 million in the first quarter of fiscal 2020.
According to the non-GAAP measures of BlackBerry, he earned two cents per share with revenue of 214 million, of which $ 8 million which cannot be recognized according to the accounting rules in the us.
John Chen, chairman and chief executive officer of BlackBerry, said that the company would not provide estimates for the future, given the current uncertainty.
The share of BlackBerry has ended-6.69 $ on the Toronto stock Exchange and to 4.92 US $ to the New York stock Exchange. After the report on the earnings, shares fell to $ 4.83 US in the exchange after normal office hours.
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