Wall Street

BlackBerry revenue tops estimates on auto, cybersecurity tech demand

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Reuters

(Reuters) -Canada’s BlackBerry Ltd topped Wall Street estimates for first-quarter revenue on Thursday, powered by growth in its auto products and cybersecurity services segments. Soaring demand for electric vehicles and connected-car technologies boosted sales of BlackBerry’s auto software, used in cars made by General Motors, Mercedes-Benz and Toyota, among others. BlackBerry said that revenue from its Internet-of-Things segment that includes its auto products grew the fastest in the reported quarter at 19%, with a gross margin of 84%. BlackBerry’s car products help power a host of functions …

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