Sunday , January 29 2023

BlackBerry's gain affects bets on autonomous technology


(Reuters) – Canadian BlackBerry Ltd announced a quarterly profit that analysts estimated on Thursday as the company's focus on fast-growing areas, including autonomous cars, increased its accounts in its technology solutions unit.

BlackBerria's participation in the US rose by 3 percent in early trading.

The company has redirected to the sale of mobile device management software, and recently for unmanaged programmers, given the loss of Apple's iPhone and Android devices in the smart market, which once dominated.

BlackBerry KNX software is used by automotive and technology companies such as Ford Motor Co., Jaguar Land Rover, Baidu Inc. and Aptiv Plc for its drivers without drivers in development.

Revenue from the technological solution segment, which houses KNKS, jumped by 23.3 percent to $ 53 million in the quarter.

The company's net profit was $ 59 million for the third quarter that ended on November 30, compared to a loss of $ 275 million a year earlier.

Excluding one-off items, the company earned a profit of 5 cents per share, surpassing the average estimate of analysts of 2 cents, according to IBES Refinitive data.

Revenue was $ 226 million, and it charges an estimated $ 212.5 million.

(Reporting to Debroop Roi and Bengaluru, Editing by Sriraj Kalluvila)

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