BlackBerry misses Q4 revenue estimates despite recovery in software sales – News 24-7 Live News 24-7 Live
BlackBerry misses Q4 revenue estimates despite recovery in software sales

BlackBerry misses Q4 revenue estimates despite recovery in software sales

Demand for the company’s QNX car software, used by automakers such as Volkswagen and Ford Motor, had been under pressure due to a slow recovery in the US auto industry amid a global semiconductor shortage and pandemic-related weakness.Canada’s BlackBerry Ltd missed Wall Street estimates for fourth-quarter revenue on Tuesday, even as the company said sales of its QNX car software showed improvement.

U.S.-listed shares of BlackBerry, which sells security software to companies and governments as well as infotainment software to carmakers, fell nearly 4% in extended trading.’This has been an exceptional year to navigate, however we are pleased with QNX’s continued recovery, despite new challenges from the global chip shortage,” said Chief Executive Officer John Chen.

News Source: Hindustan times

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