BlackBerry raises annual revenue forecast on robust demand for cybersecurity services
[MEXICO CITY] Canada's BlackBerry raised its annual revenue forecast on Tuesday (Jun 24), anticipating steady demand for its cybersecurity services amid growing online crimes, sending the company's US-listed shares up 6 per cent after the bell.
A rise in cybercrimes and hacks has spurred companies to invest heavily in cybersecurity, benefiting firms such as BlackBerry that provide security services.
Cybersecurity remains largely insulated from broader spending volatility and is likely to continue as a top investment priority for customers, analysts have said.
BlackBerry now sees fiscal year 2026 revenue in the range of US$508 million to US$538 million, up from its earlier forecast of US$504 million to US$534 million.
The company also raised its annual revenue forecast for its secure communications segment, which provides intelligent security software to enterprises and governments.
It expects revenue between US$234 million and US$244 million for the unit, from its prior forecast of US$230 million to US$240 million.
The Waterloo-based company's revenue for the quarter ended May 31 stood at US$121.7 million, below US$123.4 million reported last year.
Revenue in its QNX business rose 8.1 per cent year on year to US$57.5 million, while revenue from its secure communications unit fell 7.3 per cent to US$59.5 million in the first quarter. REUTERS
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