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BlackBerry posted a shock revenue for the primary quarter on Wednesday as its cybersecurity enterprise benefited from greater consumer spending, whereas its enterprise software program continued to realize traction in automotive sector.
US-listed shares of the corporate rose 5.79 p.c in prolonged buying and selling.
The Canadian expertise firm is banking on resilient demand for its cybersecurity merchandise on rising safety threats within the data expertise sector.
BlackBerry reported a shock revenue of 6 cents per share for the quarter ended Might 31, whereas analysts had been anticipating a lack of 5 cents per share.
Its complete income of $373 million (roughly Rs. 3,061 crore) topped analysts’ common estimate of $160.4 million (roughly Rs. 1,316 crore), in line with IBES information from Refinitiv.
Income within the cybersecurity enterprise unit rose 5.5 p.c sequentially to $93 million (roughly Rs. 763 crore), whereas income from licensing and different companies got here in at $235 million (roughly Rs. 1,929 crore), majorly comprising of proceeds from patent sale.
BlackBerry, which went public in 1997 and shortly turned well-liked for its ubiquitous enterprise smartphones, shut its flagship enterprise final yr and has since been attempting to promote its legacy patents associated to its cellular units.
In March, it signed a deal to promote patents, primarily associated to its cellular units, to Malikie Innovation Restricted for as much as $900 million (roughly Rs. 7,388 crore).
Waterloo, Canada-based BlackBerry earlier had introduced its plans to conduct a overview of strategic alternate options, together with attainable separation of its core companies — cybersecurity and software program programs.
© Thomson Reuters 2023
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