BlackBerry beats quarterly revenue estimates on strong cybersecurity demand

Tiger Newspress2021-12-22

Canadian software giant BlackBerry Ltd, beat Wall Street estimates for third-quarter revenue on Tuesday, helped by strong demand for its cybersecurity services due to the pandemic-led shift to remote working.

BlackBerry shares jumped 2% in extended trading.

Demand for cybersecurity software has been robust as more businesses migrate to cloud-based solutions to support remote work during the COVID-19 pandemic.

The rise of electric-vehicle and connected-car technologies have also aided sales of BlackBerry's QNX software, used by automakers including Volkswagen, BMW and Ford Motor.

BlackBerry reported a net profit of $74 million in the third quarter, compared with a loss of $130 million a year earlier.

Revenue fell to $184 million for the quarter ended Nov. 30, from $218 million a year earlier, but beat analysts' average expectation of $177.25 million, according to IBES data from Refinitiv.

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Comments

XiaTian
2021-12-22
XiaTian
Oh
Toby_Chua
2021-12-22
Toby_Chua
BB waking up soon
RS142
2021-12-22
RS142
Attempting to rebound back
Chris68
2021-12-22
Chris68
Buy
- Chris68:
  Yup
Surewin88
2021-12-22
Surewin88
Wow
jat
2021-12-22
jat
So happy BB is flipping its fortune
- Irene104:
  👍🏻

Leave a comment

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