Welcome to our dedicated page for Blackberry news (Ticker: BB), a resource for investors and traders seeking the latest updates and insights on Blackberry stock.
BlackBerry generates news across automotive technology partnerships, cybersecurity product developments, and quarterly financial performance. The company's QNX embedded software platform produces announcements when automotive manufacturers select the technology for new vehicle platforms, partnerships that indicate future royalty potential. These design wins often precede production revenue by multiple years due to automotive development cycles.
Earnings releases provide visibility into how the IoT and Cybersecurity segments perform independently, showing whether automotive royalties or enterprise security subscriptions drive results. Product announcements detail enhancements to the QNX platform for software-defined vehicles and improvements to AI-driven threat prevention capabilities in endpoint security products. Executive leadership changes and strategic partnership expansions also generate material news.
Industry developments affecting automotive software adoption, such as regulatory changes around vehicle safety or cybersecurity requirements, influence BlackBerry's market opportunities. News about enterprise security breaches and ransomware incidents creates context for understanding demand drivers in the Cybersecurity segment. Track these developments to understand the competitive landscape and market conditions affecting BlackBerry's embedded software and security businesses.
BlackBerry Limited (NYSE: BB; TSX: BB) has partnered with PATEO to mass-produce PATEO CONNECT+, an intelligent cockpit powered by BlackBerry QNX technology. This new cockpit will feature in over ten vehicle models across five OEMs, enhancing the driving experience with personalized features and high-level system security. The collaboration follows a prior agreement to integrate BlackBerry IVY™ into PATEO's service architecture. The cockpit combines advanced computing power with robust software, signaling a significant advancement in automotive technology.
BlackBerry reported fiscal Q1 2023 revenue of $168 million, with IoT revenue at $51 million (up 19% YoY) and Cybersecurity revenue at $113 million (up 6% YoY). However, the company faced a net loss of $177 million, largely due to a one-time litigation settlement of $165 million. The non-GAAP basic loss per share was $0.05. Despite these challenges, BlackBerry's strategic partnerships and robust market presence position it well for future growth, particularly in the IoT and Cybersecurity sectors.
On June 22, 2022, BlackBerry Limited (NYSE: BB) announced the election results for its board of directors during the annual shareholder meeting. All eight nominees listed in the proxy circular dated May 2, 2022, were elected to serve until the next annual meeting. Voting results showed strong support for the candidates, with John Chen receiving 83.94% votes in favor, while V. Prem Watsa faced a close vote with only 50.73% in favor. BlackBerry continues to provide cybersecurity solutions to over 500 million endpoints globally.
BlackBerry Limited (NYSE: BB) reported a significant milestone, with its QNX software embedded in over 215 million vehicles globally, reflecting a year-over-year increase of 20 million vehicles. The company's royalty revenue backlog reached approximately $560 million, an increase of 14% from $490 million the previous year. BlackBerry continues to secure design wins with major automotive leaders and remains a trusted provider of safety-critical embedded software, indicating strong demand within the rapidly evolving automotive sector.
BlackBerry Limited announced updates to its QNX Advanced Virtualization Frameworks (QAVF) on June 14, 2022, enhancing support for Google’s Android Automotive OS (AAOS). The new QAVF, already adopted by numerous OEMs, is designed to simplify development and accelerate time to market for Android-based IVI systems. BlackBerry QNX technology is currently in production with 45 OEMs, securing over 195 million vehicles globally. This development reinforces BlackBerry's leadership in the embedded automotive software market, especially with increasing demand for advanced driver assistance systems and autonomous driving technologies.
BlackBerry Limited (NYSE: BB; TSX: BB) and BiTECH Automotive (Wuhu) Co., Ltd have collaborated to launch an advanced digital LCD cluster using BlackBerry's QNX Neutrino RTOS in Changan Automobile's new high-end UNI-V coupe. This marks an expansion from their previous partnership for the UNI-K SUV. The LCD cluster features Augmented Reality navigation and various vehicle information displays, enhancing user experience. BlackBerry's technology ensures high security against potential cyber threats and complies with safety standards, supporting OEMs in developing connected cars efficiently.
BlackBerry Limited (NYSE: BB) will announce its first-quarter fiscal year 2023 results on June 23, 2022, at 5:30 p.m. ET. The earnings call can be accessed via phone or live-streamed on the company's investor relations website. A replay will be available later that evening. Additionally, planned earnings announcement dates for the following quarters have been provided, with Q2 on September 27, 2022, Q3 on December 20, 2022, and Q4 on March 30, 2023. The company continues to secure a vast range of endpoints, leveraging AI in cybersecurity solutions.
On June 8, 2022, BlackBerry Limited (NYSE: BB) announced enhancements to its Partner Program aimed at Managed Security Service Providers (MSSPs). This initiative responds to a growing demand for Managed Extended Detection and Response (XDR) services projected to rise from $22.45 billion in 2020 to $77.01 billion by 2030. Key enhancements include expanded product offerings, increased support for partners, new training programs, lucrative marketing incentives, and flexible pricing options, all designed to bolster MSSPs and address escalating cybersecurity threats.
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