Blackberry Plunges Below Devilish $6.66 on Guidance Whiff
A Key2 smartphone by BlackBerry.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
BlackBerry Ltd.’s big earnings miss and lower forward guidance has the shares tumbling almost 19% to a four-year low early Tuesday.
BlackBerry’s Internet-of-Things (IoT) division and Cylance cyber security unit both missed consensus estimates and contributed to the miss, according to analysts. Shares of the Waterloo, Ontario-based company fell the most since Jan. 2015 to the lowest since Oct. 2015 on a full day’s worth of volume in the first five minutes of U.S. trading.