BlackBerry lifts annual revenue forecast on strength in automotive software business
BlackBerry raised its full-year revenue forecast on Thursday after its QNX software business reported record quarterly revenue, driven by growth in automotive and new design wins. US-listed shares of the company rose about 3% in premarket trading. Revenue at BlackBerry’s QNX division, which develops software for safety-critical systems in vehicles, robotics, medical devices and industrial…
BlackBerry has boosted its annual revenue forecast, crediting the robust performance of its QNX software division. The division's second quarter revenue saw a 27% increase to $80.3 million, driven primarily by automotive applications. Key automakers like Audi, General Motors, Hyundai, and Mercedes-Benz utilize QNX software in their digital cockpits, advanced driver assistance systems, and body-control applications.
BlackBerry's CEO, John Giamatteo, highlighted the company's software-defined vehicle architectures, which are enabling the deployment of QNX software across a growing number of vehicles. In a significant contract, Coretura, a joint venture between Volvo Group and Daimler Truck, has selected QNX for its next-generation commercial vehicles, potentially adding over $100 million to QNX's royalty backlog.
This deal represents BlackBerry's largest QNX contract to date. The company's full-year 2027 revenue outlook is now projected between $616 million and $636 million, up from the previous range of $594 million to $621 million. BlackBerry's second-quarter revenue of $163.3 million exceeded analysts' estimates of $145.6 million.
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Also reported by 2 other outlets
- BlackBerry lifts annual revenue forecast on strength in automotive software business economictimes.indiatimes.com
- BlackBerry lifts annual revenue forecast on strength in automotive software business channelnewsasia.com
