By Juby Babu
June 25 (Reuters) - BlackBerry raised its annual revenue forecast on Thursday, betting on continued momentum for its QNX division following the completion of its turnaround efforts, sending its Toronto-listed shares up around 19%.
Once a powerhouse in the smartphone industry, BlackBerry has shifted its focus towards software for connected devices and self-driving vehicles over the past several years.
BlackBerry's U.S.-listed shares also rose about 20% in early trading.
BlackBerry's QNX division, which provides secure real-time operating systems for mission-critical embedded systems most notably in the automotive sector, has maintained its strong growth trajectory, with revenue surging nearly 26% to $72.3 million during the first quarter ending May 31.
June 25 (Reuters) - BlackBerry raised its annual revenue forecast on Thursday, betting on continued momentum for its QNX division following the completion of its turnaround efforts, sending its Toronto-listed shares up around 19%.
Once a powerhouse in the smartphone industry, BlackBerry has shifted its focus towards software for connected devices and self-driving vehicles over the past several years.
BlackBerry's U.S.-listed shares also rose about 20% in early trading.
BlackBerry's QNX division, which provides secure real-time operating systems for mission-critical embedded systems most notably in the automotive sector, has maintained its strong growth trajectory, with revenue surging nearly 26% to $72.3 million during the first quarter ending May 31.
4 months ago
