BlackBerry lifts annual revenue forecast on strength in automotive software business
Revenue at BlackBerry's QNX division, which develops software for safety-critical systems in vehicles, robotics, medical devices and industrial applications, rose 27% to $80.3 million in the second quarter ended August 31.
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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