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Aug 31, 2022
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.
BlackBerry
BlackBerry
Forward Guidance
BlackBerry will discuss its fiscal year 2023 outlook in connection with the quarterly earnings announcement on its earnings conference call.