(Reuters) – BlackBerry posted a shock revenue for the primary quarter on Wednesday as its cybersecurity enterprise benefited from increased consumer spending, whereas its enterprise software program continued to realize traction in automotive sector.
U.S.-listed shares of the corporate rose 5.79% in prolonged buying and selling.
The Canadian expertise firm is banking on resilient demand for its cybersecurity merchandise on rising safety threats within the info expertise sector.
BlackBerry reported a shock revenue of 6 cents per share for the quarter ended Could 31, whereas analysts had been anticipating a lack of 5 cents per share.
Its whole income of $373 million topped analysts’ common estimate of $160.4 million, in line with IBES information from Refinitiv.
Income within the cybersecurity enterprise unit rose 5.5% sequentially to $93 million, whereas income from licensing and different providers got here in at $235 million, majorly comprising of proceeds from patent sale.
BlackBerry, which went public in 1997 and shortly turned standard for its ubiquitous enterprise smartphones, shut its flagship enterprise final 12 months and has since been making an attempt to promote its legacy patents associated to its cell units.
In March, it signed a deal to promote patents, primarily associated to its cell units, to Malikie Innovation Restricted for as much as $900 million.
Waterloo, Canada-based BlackBerry earlier had introduced its plans to conduct a evaluation of strategic options, together with attainable separation of its core companies – cybersecurity and software program methods.
(This story has been refiled to repair a typo within the headline)
(Reporting by Akshita Toshniwal in Bengaluru; Modifying by Shweta Agarwal)