WATERLOO, ONT. – BlackBerry Ltd. reported losses of US$11 million in its latest quarter, up 93 per cent from a loss of US$181 million a year earlier.

The Waterloo, Ont.-based company, which reports in U.S. dollars, says revenue for the first quarter ended May 31 was US$373 million, up 122 per centfrom US$168 million during the same quarter last year.

Diluted loss per share was two cents US, up from a loss of 35 cents US last year.

Executive chair and CEO John Chen says in a press release that revenue growth was driven in part by billings, anchored on strength in the company’s core verticals, particularly government.

BlackBerry says cybersecurity revenue was US$93 million, down from US$113 million a year earlier, while Internet-of-Things revenue was also lower.

Licensing and other revenue rose to US$235 million from just US$4 million last year, including US$218 million related to BlackBerry’s recent patent sale to Malikie Innovations Ltd.

This report by The Canadian Press was first published June 28, 2023.

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