BlackBerry beats revenue estimates as it reaps the rewards of Cylance acquisition

BlackBerry’s adjusted revenue rose 23 per cent to US$267 million in the first quarter, beating the average analyst estimate of US$265 million

BlackBerry beats revenue estimates as it reaps the rewards of Cylance acquisition

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BlackBerry’s adjusted revenue rose 23 per cent to US$267 million in the first quarter, beating the average analyst estimate of US$265 million, according to IBES data from Refinitiv.

Software maker BlackBerry Ltd. on Wednesday beat analysts’ expectations for quarterly revenue, benefitting from its acquisition of cybersecurity firm Cylance.

The company’s net loss narrowed to US$35 million, or 9 US cents per share, in the quarter ended May 31, from US$60 million, or 11 US cents per share, a year earlier.

In February, BlackBerry completed its acquisition of California-based Cylance, whose software uses machine learning to preempt security breaches.

Excluding one-time items, the company earned 1 US cent per share, in line with analysts’ estimates.

Opinion: While it may seem unthinkable, many historic turning points seemed so until they happened. ‘… how do you enter into an appropriate arrangement with a private company that is conditional on something beyond your control?

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