⁍ BlackBerry’s QNX car software sales, which had been under pressure due to a pandemic-related weakness in the U.S. auto industry, also improved in the quarter.
⁍ The company reiterated it full year revenue forecast of about $950 million.
– BlackBerry’s second-quarter revenue fell short of analysts’ estimates, but that didn’t stop the tech company’s shares from rising more than 6% in after-hours trading. The company reported a net loss of $23 million, or 4 cents per share, in the second quarter, compared with a loss of $44 million, or 10 cents per share, a year earlier, Reuters reports. Excluding items, the company reported a profit of 11 cents per share, beating analysts’ estimates of 2 cents per share. BlackBerry’s QNX car software sales, which had been under pressure due to a pandemic-related weakness in the US auto industry, also improved in the quarter. Demand for new vehicles has been recovering after hitting a bottom in April, as lockdown restrictions ease and buyers return. “Some signs of recovery in auto production point to sequential revenue growth and a return to a normal run rate for QNX by early next year,” CEO John Chen said in a statement.
Source: https://www.reuters.com/article/blackberry-results/update-2-blackberry-posts-surprise-revenue-rise-on-higher-software-licensing-demand-idUSL3N2GL2RQ