BlackBerry beats estimate for Q1 revenue on strong demand for cybersecurity services

FILE PHOTO: The Blackberry logo is seen on a smarphone in front of a displayed stock graph in this illustration taken February 5, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoCanada's BlackBerry beat first-quarter revenue estimates on Wednesday, driven by a resilient demand for cybersecurity services in the wake of growing online threats.

Over the past few months, companies such as the car industry technology provider CDK, UnitedHealth Group's Change Healthcare unit and Live Nation Entertainment's Ticketmaster unit faced large-scale data breaches. The Waterloo-based company's quarterly revenue stood at $144 million, beating analysts' average estimate of $134.1 million, according to LSEG data.

BlackBerry expects second-quarter revenue in the range of $136 million to $144 million, whose mid-point is below analysts' estimate of $142.4 million.

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