(Reuters) -BlackBerry Ltd narrowly beat estimates for third-quarter revenue on Tuesday, helped by regular demand for its automotive and security software.
Growing demand for electric vehicles and connected-car technologies has boosted sales of BlackBerry’s automotive and embedded technology products.
The Waterloo, Ontario-based company can be benefiting from businesses spending on tools to guard themselves from cyberattacks and threats.
Sales within the Web of things (IoT) unit, which incorporates BlackBerry’s QNX automotive software product, rose 18.6% to $51 million within the reported quarter.
The corporate reported a net lack of $4 million, within the three-month period ended Nov. 30, compared with an income of $74 million a yr earlier.
Revenue fell 8.2% to $169 million from $184 million a yr earlier.
Analysts on average had expected revenue of $168.7 million, in accordance with IBES data from Refinitiv.
(Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli)
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