(Reuters) – Canada’s BlackBerry Ltd missed Wall Street estimates for fourth-quarter revenue on Tuesday as the pandemic-induced global economic slump hurt demand for its QNX car software.
U.S.-listed shares of BlackBerry fell nearly 4% in extended trading.
A slow recovery in the U.S. auto industry due to a global semiconductor shortage and pandemic-related weakness has hurt demand for Blackberry’s QNX car software used by automakers such as Volkswagen and Ford Motor.
Revenue fell to $210 million in the fourth quarter ended Feb. 28, below analysts’ expectations of $245.1 million, according to IBES data from Refinitiv.
Net loss widened to $315 million, or 56 cents per share, in the fourth quarter from $130 million, or 23 cents per share, a year earlier.
(Reporting by Tiyashi Datta in Bengaluru; Editing by Krishna Chandra Eluri)
