BlackBerry Limited - BB STOCK NEWS

BlackBerry (NYSE: BB) announced preliminary financial results for fiscal year 2023, estimating total revenue at approximately $656 million. The IoT business unit is projected to generate $206 million, reflecting a 16% year-over-year growth. However, revenue from the Cybersecurity unit is expected to be around $418 million, falling short of previous forecasts due to significant government contracts being delayed until fiscal year 2024. The company anticipates a goodwill impairment charge of up to $440 million related to the Spark reporting unit. An earnings call is scheduled for March 30, 2023, to discuss results and fiscal year 2024 outlook.

BlackBerry Limited (NYSE: BB) announced that its SecuSUITE® for Government 5.0 has achieved updated NIAP Certifications and complies with Commercial Solutions for Classified (CSfC) standards. This certification reinforces BlackBerry's commitment to providing robust security solutions amid rising national security threats, including surveillance tactics involving high-altitude balloons. The updated version also caters to enterprise clients, ensuring secure communications through end-to-end encryption across various devices. With over 500 million secured endpoints, BlackBerry aims to bolster cybersecurity for both businesses and governmental organizations.

BlackBerry has collaborated with Chongqing Yazaki Meter Co., Ltd to power a next-generation digital instrument cluster for vehicles from Geely Auto and Dongfeng Liuzhou Auto. The BlackBerry QNX Neutrino RTOS will enhance user experience with advanced safety and reliability features. This mass production includes 10.25 and 12.3 inch LCD clusters, improving driver interaction through cutting-edge Human-Machine Interface (HMI) technology. ISO 26262 ASIL D certification ensures compliance with automotive safety standards. This partnership positions BlackBerry in the growing automotive market, emphasizing safety, cybersecurity, and innovative automotive solutions.

On February 6, 2023, BlackBerry Limited (NYSE: BB) announced its participation in two major investor conferences:

• Baird's 2023 Vehicle Technology & Mobility Conference: February 15, 2023, at 11:25am ET, featuring a fireside chat with John Wall and Tim Foote.
• Wolfe Research Global Auto, Auto Tech, and Mobility Conference: February 16, 2023, at 8:55am ET, with discussions led by John Wall and Tim Foote.

Live streams and replays will be available on the BlackBerry investor relations website.

BlackBerry secures over 500 million endpoints globally, including 215 million vehicles, and aims to enhance cybersecurity and data privacy.

BlackBerry (NYSE: BB) released a survey indicating that 51% of IT decision-makers anticipate a successful cyberattack via ChatGPT within a year. A majority (74%) recognize ChatGPT's cybersecurity threats, with key concerns including its potential for creating convincing phishing emails (53%) and aiding hackers' skill development (49%). The survey included 1,500 IT professionals in North America, the UK, and Australia. Additionally, 82% plan to invest in AI-driven cybersecurity within the next two years, highlighting growing concerns with traditional security methods. Overall, 95% believe in the need for government regulation of advanced technologies.

BlackBerry has released its inaugural Global Threat Intelligence Report, revealing that it prevented 1.75 million malware-based cyberattacks in the last 90 days, averaging more than 62 threats per hour. The report highlights the resurgence of the Emotet botnet and the prevalence of Qakbot phishing attacks. Key findings indicate that 34% of macOS client organizations were infected by the malicious app Dock2Master, and RedLine emerged as a dominant infostealer. BlackBerry aims to enhance cybersecurity by providing timely and actionable intelligence, addressing threats in sectors like automotive, healthcare, and finance.

BlackBerry Limited has announced its milestone achievement as the first company in the Americas to receive the OpenChain Security Assurance Specification certification. This certification validates BlackBerry's capacity to manage open-source software vulnerabilities within its cybersecurity and IoT product portfolios. The initiative aims to enhance security for customers amid increasing cyber threats. With this certification, BlackBerry reinforces its commitment to providing a trusted software supply chain, which is crucial for reducing business risks linked to cyberattacks. This effort builds on previous compliance with OpenChain ISO/IEC 5230:2020.

Car IQ has partnered with BlackBerry to showcase a breakthrough in automotive payments at CES 2023. The new in-dash vehicle wallet, powered by BlackBerry IVY, allows drivers to pay for gas, tolls, parking, and EV charging directly from their car without a credit card. This innovation enables secure transactions and enhances customer engagement through merchant offers. Car IQ Pay is already accepted at over 21,500 fuel stations, simplifying the process of refueling and ensuring efficient payment processing for consumers and fleets alike.