BlackBerry (BB.TO) announced an unexpected first-quarter profit on Wednesday as its cybersecurity segment benefitted from rising client spending and its corporate software gained momentum in vehicles.
U.S. shares rose 5.79% after extended trading.
The Canadian IT company expects growing cybersecurity dangers to enhance cybersecurity product demand.
BlackBerry earned 6 cents per share for the quarter ending May 31, surprising analysts who predicted a 5-cent loss.
Refinitiv’s $373 million IBES revenue beat analysts’ $160.4 million forecast.
Cybersecurity business unit revenue rose 5.5% sequentially to $93 million, while licensing and other services revenue were $235 million, largely from patent sales.
BlackBerry dissolved its primary firm last year and has been trying to sell its mobile device patents.
In March, it sold mobile device patents to Malikie Innovation Limited for up to $900 million.
BlackBerry, situated in Waterloo, Canada, considered separating its cybersecurity and software systems operations.