The Canadian technology company said revenue from the cybersecurity business would remain flat in the first half of 2023, but grow in the latter half of the year.
Sales in the Internet of things unit, which includes BlackBerry’s QNX automotive software product, rose about 19 per cent to US$51-million in the reported quarter.The company said it was seeing some tightening in the North America and European automotive markets, but China and India markets for its QNX automotive software were strong.
Companies such as Carnival which offer cruise travel to mass markets have been discounting to attract more passengers but surging prices of essentials has pushed consumers to rethink their discretionary spending and focus more on needs-based consumable goods. The company’s net loss, however, narrowed to about US$1.60-billion, or US$1.27 per share, in the fourth quarter, from US$2.62-billion, or US$2.31 per share, a year earlier.), one of the biggest publicly traded cryptocurrency mining companies in the United States, plummeted after it said on Wednesday it filed for Chapter 11 bankruptcy protection, the latest in a string of failures to hit the sector.
Several crypto companies have since been plagued by contagion concerns from the fallout of the FTX collapse, which has quashed hopes of a recovery in prices of digital assets in the near-term.