Demand for
cybersecurity software has been robust as more businesses and government
organisations migrate to cloud-based solutions to support remote work during
the COVID-19 pandemic.
BlackBerry posted
third-quarter cybersecurity revenue of $128 million and forecast that to be
between $125 million and $135 million in the fourth quarter, below an estimate
of $143 million by one analyst, according to Refinitiv data.
US shares of the
company fell 1.2 percent to $9.14 in extended trading.
Chief Executive
Officer John Chen said on a conference call that BlackBerry expects automotive
supply chain issues to ease in the fourth quarter and help boost demand for its
QNX car 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.
Excluding items, the
company broke even 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, from $218 million a year earlier,
but beat analysts' average expectation of $177.25 million, according to IBES
data from Refinitiv. © Reuters
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