- Reports Q1 (May) earnings of $0.06 per share, excluding non-recurring items, $0.12 better than the FactSet Consensus of ($0.06); revenues rose 122.0% year/year to $373 mln vs the $158.14 mln FactSet Consensus.
- IoT revenue of $45 million.
- Cybersecurity revenue of $93 million.
- Licensing & Other revenue of $235 million.
- IoT revenue of $45 million.
The Canadian technology company is banking on resilient demand for its cybersecurity products on rising security threats in the information technology sector.
BlackBerry reported a surprise profit of 6 cents per share for the quarter ended May 31, while analysts were expecting a loss of 5 cents per share.
Its total revenue of $373 million topped analysts' average estimate of $160.4 million, according to IBES data from Refinitiv.
Revenue in the cybersecurity business unit rose 5.5% sequentially to $93 million, while revenue from licensing and other services came in at $235 million, majorly comprising of proceeds from patent sale.
BlackBerry, which went public in 1997 and soon became popular for its ubiquitous business smartphones, shut its flagship business last year and has since been trying to sell its legacy patents related to its mobile devices.
In March, it signed a deal to sell patents, primarily related to its mobile devices, to Malikie Innovation Limited for up to $900 million.
Waterloo, Canada-based BlackBerry earlier had announced its plans to conduct a review of strategic alternatives, including possible separation of its core businesses - cybersecurity and software systems.
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