BlackBerry Earnings: Growth Slows
Digital security company BlackBerry (NYSE: BB) reported its fiscal second-quarter results before the market opened on Tuesday. A deceleration in quarterly revenue growth and a more moderate view from management for full-year revenue spooked investors, sending the stock plummeting lower.
The company saw double-digit top-line growth and managed to break even on a non-GAAP basis, despite sharply higher spending on sales and product development aimed to capitalize on growth opportunities. But the company said its enterprise software and services (ESS) business performed below its expectations.
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Source Fool.com
