BlackBerry raises annual revenue forecast after QNX posts strong quarter
BlackBerry just raised its annual revenue forecast after its QNX software division had a standout quarter.
QNX revenue jumped 27% to $80.3 million, mostly because more carmakers are using the tech in their vehicles.
This boost also nudged BlackBerry's stock up 3% before markets opened.
Volvo Daimler JV could add $100 million+
QNX is now powering digital dashboards and driver-assist features for brands like Audi, GM, Hyundai, and Mercedes-Benz.
CEO John Giamatteo pointed out that as cars get smarter, QNX is finding even more uses.
Plus, BlackBerry landed its biggest-ever QNX deal with Coretura (a joint venture between Volvo Group and Daimler Truck), which could add more than $100 million to its royalty backlog.
With all this momentum, BlackBerry now expects up to $636 million in revenue next year, higher than it previously thought, and its latest quarterly revenue even beat what analysts predicted.