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2mo ago

BlackBerry Swings to Profit in Q1, Boosts Fiscal 2026 Revenue Outlook

Shares jumped nearly 20% following stronger-than-expected earnings that prompted management to lift the company’s full-year revenue forecast.

The Blackberry logo located in the front of the company's B building in Waterloo, Ont. on Tuesday, May 29, 2018. BlackBerry Ltd. says it's taking action to streamline costs, including cutting jobs, as part of the ongoing process to separate two of its business divisions. THE CANADIAN PRESS/Andrew Ryan
The Blackberry logo is shown on a office tower in Irvine, California, U.S., October 20, 2020. REUTERS/Mike Blake/File Photo
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Overview

  • BlackBerry delivered a Q1 GAAP net profit of US$1.9 million, marking its first quarterly profitability since early 2022 and reporting adjusted earnings of $0.02 per share versus a zero-cent consensus.
  • Total revenue for the quarter reached $121.7 million, outperforming analysts’ estimate of $112.18 million.
  • The QNX automotive software division grew 8 percent year-over-year to $57.5 million while Secure Communications revenue hit $59.5 million, exceeding prior guidance.
  • The company repurchased US$10 million of its shares during the quarter as part of a US$100 million buyback program.
  • Fiscal 2026 revenue guidance was raised to a range of $508 million to $538 million, up from an earlier forecast of $504 million to $534 million.