Digitalbridge Group Inc
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Company profile

DigitalBridge Group, Inc., formerly Colony Capital Inc., is an investment company. The Company is focused on digital infrastructure investments. The Company's assets under management (AUM) consists of third-party capital investments in digital managed funds, digital operating balance sheet investments, and other digital investment vehicles.

Postmarket

Last Trade
Delayed
$6.47
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$6.47
Day's Change
0.05 (0.78%)
Bid
--
Ask
--
B/A Size
--
Day's High
6.56
Day's Low
6.42
Volume
(Light)
Volume:
1,465,355

10-day average volume:
3,057,786
1,465,355

BlackBerry pleases its meme followers with first-quarter earnings beat

6:29 pm ET June 24, 2021 (MarketWatch)
Print

Thornton McEnery

BlackBerry Ltd. stock rose about 1% in the extended session Thursday after the company reported a narrower-than-expected adjusted quarterly loss and sales that beat expectations.

BlackBerry (BB.T) said it lost $62 million, or 11 cents a share, in its fiscal first quarter, compared with a loss of $636 million, or $1.14 a share, in the year-ago quarter. Adjusted for one-time items, the company lost 5 cents a share.

Sales fell to $174 million from $206 million a year ago.

Analysts polled by FactSet had expected BlackBerry to report an adjusted loss of 6 cents a share on sales of $172 million.

The company highlighted its ongoing pivot from hardware producer to security software outfit, touting $107 million in revenue from its cybersecurity unit in the quarter.

"This quarter we aligned the business around the two key market opportunities: IoT and cybersecurity," BlackBerry Chief Executive John Chen said in a statement.

Despite telling the Securities and Exchange Commission (https://www.marketwatch.com/story/sec-tells-blackberry-to-stop-using-non-gaap-revenue-metric-first-highlighted-by-marketwatch-11616768793) it would stop doing so in 2021, BlackBerry continued its practice of reporting non-GAAP revenue, or revenue that does not conform with Generally Accepted Accounting Principles.

On a non-GAAP basis, BlackBerry's operating loss was $23 million, or 5 cents a share. Using GAAP, the losses more than double to $58 million and 11 cents a share, respectively.

Regardless of the accounting practice, the in-line results appeared to please the meme stock's supporters. The after-hours move reversed a 3.5% loss during regular trading Thursday (https://www.marketwatch.com/story/blackberrys-meme-buzz-goes-silent-as-company-is-set-to-report-earnings-11624562387?mod=home-page), and both trading and social-media sentiment volume soared after the company's disclosure.

-Thornton McEnery; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

June 24, 2021 18:29 ET (22:29 GMT)

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