(Reuters) – canadian BlackBerry Ltd., beat quarterly profit and sales estimates on Friday, boosted by demand in its patent protection, and cybersecurity of businesses, sending its shares up 10% on a nine-month high.
FILE PHOTO: A Blackberry, a sign is seen in front of their offices on the day of the annual general meeting for shareholders in Waterloo, Canada, June 23, 2015. REUTERS/Mark Blinch
BlackBerry, the once popular for its phones, and for the loss of Apple Inc’s iPhones and Android devices, the security of your data, software, companies, and government agencies, and the software for the driverless cars.
As part of its push into cyber security company, with the company in February acquired Cylance, a California-based cyber security company, which is the software that makes use of machine learning, in order to prevent a breach of security. BlackBerry reported revenue of $40 million of Cylance.
“It is home to a variety of Cylance’s products and services will no doubt help to drive stronger sales growth next year,” Chief Executive Officer John Chen said on a post-transcription.
The company’s adjusted revenues increased by 23% to $280 million for the third quarter ended Sept. 30, beating analysts ‘ average estimate of $276 million, according to IBES data, Refinitiv.
However, it is adjusted to the amount of sales of the company’s Internet of Things business, which houses the technology and enterprise software and services (ESS) unit, was down 3% to $145 million.
Chen was informed of the company’s second quarter earnings call, which is softness in the GUARDIAN’s business will continue to be around for the next two quarters of this year, mainly due to the change in the sales team.
The company reported a net quarterly loss of $32 million, compared with a net profit of $59 million a year earlier.
On a per-share basis, its loss widened to 7 cents, with 1 cent a year earlier.
Excluding one-time items, BlackBerry earned 3 cents per share, beating the average analyst estimate by 2 cents.
Reporting Amal in Bengaluru; Editing by Vinay Dwivedi