Shares of BlackBerry Limited (NYSE: BB) surged over 7% in trading today after the company provided an optimistic outlook on profitability for its cybersecurity and Internet of Things (IoT) divisions, along with details on strategic restructuring efforts.
In an investor day presentation on September 26th, BlackBerry forecasted Fiscal Year 2025 cyber revenues between $350 million and $365 million, projecting break-even results. This signals a potential turnaround after facing previous challenges. The company expects Fiscal Year 2025 overall revenues between $591 million and $616 million.
As part of its efforts to streamline operations and focus investments on growth areas like secure communications and IoT, BlackBerry is exploring strategic options for its Cylance cybersecurity business, which specializes in AI-driven security solutions. This move aims to enhance operational efficiency and increase capital allocation for high-growth segments.
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