BlackBerry Ltd (BB)

BlackBerry Ltd (BB) stock dropped by 17.46% due to the company's announcement regarding its intention to offer Convertible Senior Notes due 2029 in a private offering. Here's a summary of the key points from the information you provided. BlackBerry Limited intends to offer $160 million aggregate principal amount of Convertible Senior Notes due 2029 in a private offering. These notes are expected to be offered to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933 and pursuant to prospectus exemptions in Canada and other jurisdictions. The drop in BlackBerry's stock price may be related to investor concerns or reactions to the issuance of convertible notes, as well as the potential dilution of common shares if conversions occur. Investors often react to news of debt offerings and changes in the capital structure of a company.

Shares of BlackBerry Ltd (BB) dropped by 12.68% from $4.10 to $3.58 in the trading on Thursday, December 21, 2023. The reason why BB down today is due to mixed quarterly results for the company's fiscal third quarter that ended on November 30, 2023:

• Revenue Growth: BlackBerry reported a 3.6% year-over-year increase in revenue, reaching $175 million for the quarter. This performance was driven by growth in its core segments, including cybersecurity and Internet of Things (IoT), which saw an 8% increase each.
• Earnings Surprise: The company reported adjusted (non-GAAP) earnings of $0.01 per share, contrary to most analysts' expectations of an adjusted net loss of $0.02 per share. However, revenue was lower than the anticipated $181 million.
• Segment Performance: BlackBerry's cybersecurity segment revenue grew by 8% year over year to $114 million, while IoT revenue also rose by 8% to $55 million. However, the growth in these segments was offset by a 50% decline in licensing and other revenue, which totaled $6 million.
• Cybersecurity Concerns: While the company enjoyed growth in its cybersecurity and IoT segments, it faced a slight sequential contraction in cybersecurity annual recurring revenue (ARR), which dropped from $279 million to $273 million. Additionally, the company's dollar-based net retention rate (DBNRR) in the cybersecurity segment was approximately 82%, indicating that existing customers spent an average of 18% less on BlackBerry's cybersecurity solutions after their first year as clients. The mixed results, with revenue below expectations but earnings beating estimates, led to a decline in BlackBerry's stock price. Additionally, concerns about the cybersecurity segment's revenue and customer spending may have contributed to the stock's drop.

BlackBerry Limited Stock (BB) dropped by 11.24% from $4.27 to $3.79 in the trading on Thursday October 5, 2023. The reason why BB stock down is due to the announcement of seperation. BlackBerry will separate its internet of things and cybersecurity businesses into two independently-operated entities, plans IPO for Internet of Things business. The decision follows a strategic review of its portfolio with Morgan Stanley and Perella Weinberg Partners.

Shares of BlackBerry Limited (BB) dropped by 6.58% from $4.71 to $4.40 in the trading on Monday October 2, 2023. The BB stock is down due to its disappointed second quarter earnings:

• In Q2 fiscal 2024, BlackBerry (BB) reported a 4-cent per share loss, compared to a 5-cent loss in the previous year.
• Quarterly revenues were $132 million, down from $168 million in the previous quarter.
• Cybersecurity business revenues were $79 million, down 28.8% YoY due to extended government sector sales cycles.
• IoT business brought in $49 million, down 3.9% YoY, with Licensing and Other contributing $4 million.
• Total non-GAAP operating expenses were $114 million, resulting in an adjusted operating loss of $28 million. Adjusted EBITDA loss was $22 million.

BlackBerry Ltd (BB) witnessed a substantial 15.52% decline, with its stock price falling to $4.68. This drop followed BlackBerry's announcement of an anticipated 21.4% decrease in revenue for the second quarter.

https://finance.yahoo.com/news/blackberry-bb-reports-q1-preliminary-153500017.html