Blackberry phones were known for their strong encryption. (Image credit: Reuters)
Excluding commodities, the company also broke down on a per-share basis, beating analysts’ average estimate of a loss of 7 cents per share.
- Reuters
- Last Update:December 22, 2021, 2:06 pm IS
- What should I follow:
BlackBerry Limited (BB.TO) on Tuesday surpassed Wall Street estimates for third-quarter revenue, helped by continued demand for its cybersecurity and Internet of Things products. Demand for cyber security software has been strong as more businesses and government organizations migrate to cloud-based solutions to support remote working during the COVID-19 pandemic. Blackberry Refinitiv posted third-quarter cybersecurity revenue of $128 million, estimated to be between $125 million and $135 million in the fourth quarter, down from an analyst estimate of $143 million, according to Refinitiv data. US shares of the company fell 1.2 percent to $ 9.14 (about Rs 690) in extended trading.
Chief Executive Officer John Chen said on a conference call that Blackberry expects to ease automotive supply chain issues in the fourth quarter and help boost demand for its QNX car software, which includes automakers Volkswagen, bmw, And Wade Motor. BlackBerry reported a net profit of $74 million in the third quarter, compared to a loss of $130 million a year earlier.
Excluding commodities, the company also broke down on a per-share basis, beating analysts’ average estimate of a loss of 7 cents per share. Revenue fell to $184 million for the quarter ended November 30, according to IBES data from Refinitiv, from $218 million a year earlier, but exceeding analysts’ average expectation of $177.25 million.
read all breaking news, today’s fresh news And coronavirus news Here.
,