BlackBerry reports $42M Q1 net loss, plans to split cybersecurity from IoT, cutting costs by $125M.

BlackBerry Ltd. has reported a US$42-million net loss in its Q1, as the tech company continues its cost-cutting measures. The company's CEO, John Giamatteo, said that significant progress has been made in the process of splitting its cybersecurity business from its Internet of Things division. This has led to a reduction in back-office roles and facilities, and is expected to deliver US$125 million in total savings.