Dec 20 (Reuters) – BlackBerry Ltd (BB.TO), narrowly beat estimates for third-quarter revenue on Tuesday, helped by steady demand for its automotive and security software.
Growing demand for electric vehicles and connected-car technologies has boosted sales of BlackBerry’s automotive and embedded technology products.
The Waterloo, Ontario-based company is also benefiting from businesses spending on tools to protect themselves from cyberattacks and threats.
Sales in the Internet of things (IoT) unit, which includes BlackBerry’s QNX automotive software product, rose 18.6% to $51 million in the reported quarter.
The company reported a net loss of $4 million, in the three-month period ended Nov. 30, compared with an income of $74 million a year earlier.
Revenue fell 8.2% to $169 million from $184 million a year earlier.
Analysts on average had expected revenue of $168.7 million, according to IBES data from Refinitiv.
Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli
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