BlackBerry shares surged 13% Wednesday after the company posted its first quarterly profit since 2022. The Waterloo-based tech firm reported a US$1.9 million profit in Q1, surprising analysts who projected a US$10 million loss, according to Visible Alpha. Revenue reached USD $121.7 million, topping expectations of USD $112.6 million.
The rebound comes as BlackBerry restructures operations, including a revamp of its QNX division and the sale of a major cybersecurity unit. Additionally, it gained approval to provide its AtHoc secure communications software to U.S. federal agencies. The earnings report marks a potential turning point in the company’s ongoing transformation.
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