Author: Canadian Press

BlackBerry shares fall after posting Q4 loss, revenue down from year ago

TORONTO — Shares in BlackBerry Ltd. fell nearly 10 per cent in early trading after it reported a net loss of US$7.4 million in its fourth quarter compared with a loss of US$56.2 million a year earlier.

Shares in the company were down 51 cents at C$4.84 in trading on the Toronto Stock Exchange shortly after the market opening.

BlackBerry, which keeps its books in U.S. dollars, says its loss amounted to a penny US per share for the quarter ended Feb. 28 compared with a loss of 10 cents US per share a year earlier.

Revenue for the quarter totalled US$141.7 million, down from US$152.9 million in the same quarter last year.

The drop came as secure communications revenue totalled US$67.3 million, down from US$71.6 million a year ago, while QNX revenue amounted to $65.8 million, down from $65.9 million. Licensing revenue was US$8.6 million, down from US$15.4 million in the same quarter last year.

BlackBerry says its adjusted net income for the quarter amounted to a profit of three cents US per share, the same as a year earlier.

This report by The Canadian Press was first published April 2, 2025.

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The Canadian Press

Lightspeed Commerce cuts revenue outlook for 2025 financial year

MONTREAL — Lightspeed Commerce Inc. is cutting its revenue outlook as it sees worsening economic conditions.

The company says it now expects year-over-year revenue growth of about 18 per cent for its 2025 financial year, which ends on March 31.

The outlook is down from earlier expectations from growth of about 20 per cent.

Lightspeed says that since reporting its third-quarter results on Feb. 6 that macroeconomic conditions have deteriorated leading to a decline in same-store sales.

The company continues to expect adjusted earnings before interest, taxes, depreciation and amortization of over $53 million for the financial year.

The updated outlook comes ahead of Lightspeed’s capital markets day at the New York Stock Exchange on Wednesday.

This report by The Canadian Press was first March 24, 2025.

Companies in this story: (TSX:LSPD)

The Canadian Press

In the news today: Pros and cons of dropping consumer carbon tax, new Ontario cabinet

Here is a roundup of stories from The Canadian Press designed to bring you up to speed…

End of carbon levy will ease pain at pumps: report

Canadians can expect to feel the absence of the consumer carbon price at the pumps immediately but it may take longer to notice a difference in the price of other goods, a new report released Wednesday suggests.

The analysis by Desjardins Economics comes less than a week after Prime Minister Mark Carney and his new Liberal cabinet ordered that the consumer levy be set to zero on April 1.

The carbon price came with a quarterly rebate to offset the cost of inflation; the final rebate will come in April.

The report suggests that move will push overall inflation down over the next year as a result of Ottawa’s decision to kill the consumer price on carbon pollution.

End of carbon tax leaves $1.5B hole in B.C. budget

British Columbia’s budget shows that the impending end of the province’s consumer carbon tax will leave a roughly $1.5-billion hole in its revenue streams, with one expert saying that “there will be both winners and losers” from the change.

The budget released earlier this month shows the province was forecasting revenue of just over $2.5 billion from the tax in the 2024-25 fiscal year, while the estimated cost of the climate action tax credit was $995 million.

Werner Antweiler, associate professor at the Sauder School of Business at the University of B.C., says that leaves about $1.5 billion in revenue the province will need to make up, which could include cutting spending or raising taxes elsewhere.

He says the end of the consumer carbon tax will bring relief at the gas station — as much as about 17 cents per litre.

Ontario Premier Doug Ford set to name new cabinet

Ontario Premier Doug Ford is set to name his new cabinet today, three weeks after winning a third consecutive majority government.

Lt.-Gov. Edith Dumont will swear in the premier and his executive council in a ceremony at the Royal Ontario Museum.

Ford did not give any hints Tuesday as to whether he would keep a lot of his previous ministers in their posts or if he was looking at a major shake up.

But he said that he still plans on directly dealing with the tariff threats from the United States, suggesting he may not create a new ministerial portfolio focused on that.

Ford has been increasing the size of his cabinet since he was first elected in 2018 and his last cabinet grew in August to 37 people after he brought new associate ministers on board.

Saskatchewan set to introduce budget

Saskatchewan is set to table its budget today outlining the province’s plans to boost spending on health care, education and crime reduction.

Premier Scott Moe has said increased investment in those areas is meant to reduce surgical wait times, improve Grade 3 reading levels and make communities safer.

Moe has also pledged to freeze the education property tax while providing more money to municipalities.

This is the Saskatchewan Party government’s first budget since Moe was re-elected premier last fall.

His platform promised deficits in the first three years to accommodate increased spending and provide broad-based tax relief, which was passed through legislation last year.

Vancouver car show removes Tesla over event safety

Tesla has been removed from participating in this week’s Vancouver International Auto Show over safety concerns, the event’s executive director says.

Eric Nicholl said Tuesday that the show asked the electric carmaker to withdraw because of a “primary concern” for the safety of workers, attendees and exhibitors.

Nicholl said the decision wasn’t easy, but was made “in light of the recent escalating events throughout North America.”

Tesla did not immediately reply to an emailed request for comment about the auto show. The Vancouver Police Department did not immediately respond to an emailed request for comment about any safety or security concerns about Tesla and the auto show.

Shopify shares to start trading on Nasdaq

Shopify Inc. is moving its U.S. stock exchange listing to the Nasdaq from the New York Stock Exchange, beginning March 31.

The Canadian technology company says its TSX listing won’t be affected, and its SHOP stock ticker will remain the same.

The company did not provide a reason for the move.

Last month, Shopify listed a U.S. address alongside its Canadian headquarters for the first time in an annual regulatory filing with the U.S. Securities and Exchange Commission.

This report by The Canadian Press was first published March 19, 2025

The Canadian Press

Shopify shares to trade on Nasdaq, moving from New York Stock Exchange

OTTAWA — Shopify Inc. is moving its U.S. stock exchange listing to the Nasdaq from the New York Stock Exchange, beginning March 31.

The Canadian technology company says its TSX listing won’t be affected, and its SHOP stock ticker will remain the same.

The company did not provide a reason for the move.

Last month, Shopify listed a U.S. address alongside its Canadian headquarters for the first time in an annual regulatory filing with the U.S. Securities and Exchange Commission.

At the time, TD Cowen analyst Peter Haynes said the move could help Shopify gain membership to certain U.S. indexes.

However, a Shopify spokesperson said it was simply a way to align Shopify’s disclosures with its software peers.

This report by The Canadian Press was first published March 18, 2025.

Companies in this story: (TSX:SHOP)

The Canadian Press

Shares of Algonquin Power & Utilities fall as it reports US$186.4M Q4 loss

TORONTO — Algonquin Power & Utilities Corp. reported a loss in its fourth quarter compared with a profit a year ago as its revenue edged lower.

The company, which keeps its books in U.S. dollars, says it saw a net loss attributable to shareholders of US$186.4 million or 25 cents US per diluted share for the quarter ended Dec. 31.

The result compared with profit of US$186.3 million or 27 cents US per diluted share for the last three months of 2023.

Revenue for the quarter totalled US$584.8 million, down from US$585.7 million a year earlier.

On an adjusted basis, Algonquin says it earned six cents US per share in its latest quarter compared with an adjusted profit of 12 cents US per share in fourth quarter of 2023.

Shares in the company were down 45 cents or nearly seven per cent at C$6.38 in early trading on the Toronto Stock Exchange.

This report by The Canadian Press was first published March 7, 2025.

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