BlackBerry Beats and Raises in F2Q on Record Embedded Software Performance
Dow Jones
Sep 24
0813 ET - BlackBerry's embedded software division leads a beat-and-raise F2Q. The QNX division sees revenue grow 27% to $80.3 million, while adjusted gross margin rose 4 percentage points to 87%. CEO John Giamatteo calls it a record performance, and cites "strength in our core automotive business." And QNX still has more to give. He notes its first win for Alloy Kore in the quarter, its middleware software for commercial vehicle fleet hardware, "the largest design win in QNX history marks an important commercial milestone," and adds over $100 million to the QNX royalty backlog. The segment's performance drove total growth above expectations in 2Q, and anchors a full-year guidance raise.
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