Main PageBlackBerry Revenue Exceeds Expectations Amid Strong Demand for Cybersecurity
BlackBerry reported that its third-quarter revenue exceeded Wall Street analysts' expectations. The key to success turned out to be a steady high demand for cybersecurity technologies and IoT products.
With the onset of the acute phase of the pandemic, numerous private companies and government departments were forced to relocate part of their staff to remote locations, moving part of the corporate infrastructure to the cloud, which led to an increase in demand for cybersecurity technologies. BlackBerry reported that in the third quarter, revenue in this area amounted to $ 128 million, and for the fourth quarter analysts predicted getting into the range from $ 125 to $ 135 million. On the back of the news, the company's shares in the United States fell 1.2% to $ 9.14.
BlackBerry CEO John Chen said the company expects at least a partial solution to supply problems for automakers in the fourth quarter, which will drive demand for QNX-based automotive software used by Volkswagen, BMW and Ford. BlackBerry's third-quarter net income was $ 74 million, which is an excellent result compared to a net loss of $ 130 million in the same period a year earlier. BlackBerry's total revenue in the quarter ended November 30 was $ 184 million, down from $ 218 million a year earlier but above $ 177.25 million predicted by analysts.
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