BLACKBERRY

Company has significant revenue in the third quarter

BlackBerry said its third-quarter revenue exceeded Wall Street analysts' expectations. The key to success has been the sustained high demand for cybersecurity technologies and IoT products.

With the onset of the acute phase of the pandemic, several private companies and government departments were forced to relocate some 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 for the third quarter, revenue in this area was $128 million, and for the fourth quarter, analysts had predicted a range of $125 to $135 million. Based on the news, the company's shares in the US States fell 1.2% to $9.14.

BlackBerry CEO John Chen said the company expects at least a partial solution to the automakers' supply problems in the fourth quarter, which will boost demand for QNX-based automotive software used by Volkswagen, BMW and Ford. BlackBerry's third-quarter net income was $74 million, an excellent result compared to a net loss of $130 million for the same period last year. Total BlackBerry revenue for the quarter ended Nov. 30 was $184 million, down from $218 million a year earlier but up from the $177.25 million forecast by analysts. 

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