BlackBerry Raises Annual Revenue Forecast on Strong Demand for Cybersecurity Services
(Reuters) - BlackBerry, the Canadian tech company, raised its annual revenue forecast on Tuesday, citing robust demand for its cybersecurity services amid the rising tide of online crimes. This positive news sent the company's U.S.-listed shares up 6% after the market closed.
The surge in cybercrimes and hacks has prompted companies to invest heavily in cybersecurity, benefiting firms like BlackBerry that provide security services. Cybersecurity remains largely insulated from broader spending volatility and is likely to continue as a top investment priority for customers, analysts have said.
BlackBerry now sees fiscal year 2026 revenue in the range of $508 million to $538 million, up from its earlier forecast of $504 million to $534 million. The company also raised its annual revenue forecast for its secure communications segment, which provides intelligent security software to enterprises and governments. It now expects revenue between $234 million and $244 million for the unit, up from its prior forecast of $230 million to $240 million.
The Waterloo-based company's revenue for the quarter ended May 31 stood at $121.7 million, down from $123.4 million reported last year. Revenue in its QNX business rose 8.1% year-on-year to $57.5 million, while revenue from its secure communications unit fell 7.3% to $59.5 million in the first quarter.
As the world becomes increasingly connected, the importance of cybersecurity cannot be overstated. BlackBerry's robust demand for its security services is a testament to the growing need for companies to protect their data and systems from online threats. With its raised revenue forecast, BlackBerry is well-positioned to continue providing top-notch security solutions to its customers and solidify its position as a leader in the cybersecurity industry.
