BlackBerry Q2 2023 Earnings Report

Delivered strong year-over-year revenue growth for IoT business unit and double-digit sequential billings growth for Cybersecurity business unit.

Key Takeaways

BlackBerry reported a solid second quarter, delivering revenue in line with expectations and EPS ahead of expectations. The IoT business continues to gain market share, while the Cybersecurity business delivered double-digit sequential billings growth.

Total company revenue was $168 million.

IoT revenue was $51 million, a 28% increase year-over-year, with gross margin of 82%.

Cybersecurity revenue was $111 million, an 8% decrease year-over-year, with gross margin of 55% and ARR of $321 million.

Cybersecurity billings increased 15% sequentially to $102 million and grew 6% year-over-year in the first half of the fiscal year.

Previous year: -$0.06

-16.7%