Shares of Canadian technology firm BlackBerry (BB) rose 6% after the company forecast a 54% rise in its 2026 revenue due to accelerating growth in its cybersecurity business.
The former smartphone maker that now specializes in security software said it anticipates 2026 revenue of $880 million to $960 million.
BlackBerry added that its gross margin for the cybersecurity unit is forecast to grow by 400 to 600 basis points by fiscal 2026.
The Waterloo, Ontario-based company also reiterated its current fiscal 2024 revenue forecast of $665 million to $700 million, which is slightly below analyst estimates of $701 million, according to Refinitiv data.
BlackBerry’s stock has declined 51% over the last five years. The company has long struggled with its transition away from making smartphones.
Tech Insider
