Canada's BlackBerry Ltd on Tuesday cut the top end of its current fiscal-ye...
) on Tuesday cut the top end of its current fiscal-year revenue forecast and posted lower-than-expected quarterly revenue, hit by weak demand for its software amid increasing competition.
Adjusted revenue from BlackBerry’s Internet of Things business, which includes the enterprise software and technology solutions units, fell 5% to $134 million, missing estimates for the second straight quarter. Analysts on average had expected revenue of $150 million from the business.The company said it now expects current-year revenue to rise between 23% and 25%, compared to its earlier forecast of 23%-27%.
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