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.
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. Despite telling the Securities and Exchange Commission 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.
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