Canadian technology firm BlackBerry (BB) has reported quarterly financial results that exceeded analyst forecasts.
The Waterloo, Ontario-based company reported fiscal second-quarter earnings per share (EPS) of $0.07 U.S., which topped the $0.04 U.S. expected on Wall Street.
Revenue in the latest quarter totaled $163.3 million U.S., which beat the consensus estimate among analysts of $142.5 million U.S. Sales were up 26% from a year earlier.
Management said the company is benefitting as its software that enables self-driving vehicle functions is increasingly being adopted by automotive companies.
In its earnings release, BlackBerry said that its QNX operating system is now embedded in 275 million cars, providing automakers with a platform to build new applications.
The company has spent more than a decade transitioning away from its previous smartphone business to focus on software and Internet of Things (IoT) technologies.
In terms of guidance, BlackBerry said that it expects fiscal-third quarter sales of $149 million U.S. and earnings of $33 million U.S.
The outlook was mixed compared to Wall Street’s projections for sales of $148 million U.S. and a $34 million U.S. profit.
For all of its current 2027 fiscal year, BlackBerry said that it expects revenue of $626 million U.S. and earnings of $150 million U.S.
Wall Street had sales of $612 million U.S. and a profit of $138 million U.S. penciled in for the company.
BB stock has risen 96% in the last 12 months to trade at $8.38 U.S. per share.
