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BlackBerry exploring options for Cylance business

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Blackberry,Cylance

In an investor day presentation, the company said it was looking to redirect spending to high-growth areas from Cylance, which requires significant levels of...

- BlackBerry forecast profit for its next fiscal year above market estimates and said it was exploring options for its Cylance business, sending shares of the Canadian company more than 4% higher on Wednesday.

BlackBerry — once a dominant force in the smartphone market — has transitioned into selling software for devices and autonomous vehicles and bought Cylance in 2019 for $1.4 billion. It forecast fiscal 2026 adjusted earnings before interest, tax, depreciation and amortization to be about $50 million to $60 million, compared with analysts' expectations of $47.8 million.

 

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Five things to watch for in the Canadian business world this weekThis week will see several important events impacting the Canadian business landscape, including Bank of Canada Governor Tiff Macklem's appearance at a forum, a Conservative motion of non-confidence against the Liberal government, and key earnings releases from BlackBerry. Investors will also be watching CIBC's annual Eastern Institutional Investor Conference and Statistics Canada's release of GDP figures for July.
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