BlackBerry Trims Secure Communications Forecast as Precaution
Dow Jones
Sep 24
1136 ET - BlackBerry's cautious trim to its Secure Communications segment outlook is precautionary, says CEO John Giamatteo. BlackBerry revised its full-year revenue forecast for the segment to $260 million to $270 million and adjusted Ebitda outlook to be between $50 million and $58 million, down from $270 million to $280 million, and $57 million to $65 million, respectively. Giamatteo pointed to broader geopolitical uncertainty and U.S.-Canada trade tensions, noting that much of the segment relies on government contracts. "We just felt putting a little bit of caution into the forecast was the right thing to do versus surprising Wall Street," he says, but that "we haven't seen a material impact or lost deals."
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