BlackBerry Limited (NYSE: BB) has reported a net loss for the fourth quarter of 2023 compared to a profit last year, as the tech firm’s revenues declined.

Total revenues decreased to $151 million in the fourth quarter from $185 million in the corresponding period of 2022. An increase in IoT revenues was more than offset by weakness in the other two operating segments.

Reflecting the weak top-line performance, the company reported a loss of $495 million or $0.85 per share for the February quarter, compared to a profit of $144 million in the prior-year period. Adjusted loss, on a per-share basis, was $0.02 per share, compared to earnings of $0.01 per share last year.

“As previously communicated, BlackBerry’s Cybersecurity business unit saw the timing of a number of large government deals slip into later quarters, but we are confident that they will close this fiscal year,” said John Chen, CEO of BlackBerry.

Prior Performance

The post BB Earnings: A snapshot of BlackBerry’s Q4 2023 results first appeared on AlphaStreet.