FILE PHOTO: The Blackberry logo is shown on a office tower in Irvine, California, U.S., October 20, 2020. REUTERS/Mike Blake/File Photo
(Reuters) -Canada's BlackBerry raised its annual revenue forecast on Tuesday, anticipating steady demand for its cybersecurity services amid growing online crimes, sending the company's U.S.-listed shares up 6% after the bell.
A rise in cybercrimes and hacks has spurred companies to invest heavily in cybersecurity, benefiting firms such as BlackBerry that provide security services.
Cybersecurity remains largely insulated from broader spending volatility and is likely to continue as a top investment priority for customers, analysts have said.
BlackBerry now sees fiscal year 2026 revenue in the range of $508 million to $538 million, up from its earlier forecast of $504 million to $534 million.
The company also raised annual revenue forecast for its secure communications segment, which provides intelligent security software to enterprises and governments.
It expects revenue between $234 million and $244 million for the unit, from its prior forecast of $230 million to $240 million.
The Waterloo-based company's revenue for the quarter ended May 31 stood at $121.7 million, below $123.4 million reported last year.
Revenue in its QNX business rose 8.1% year-on-year to $57.5 million, while revenue from its secure communications unit fell 7.3% to $59.5 million in the first quarter.
(Reporting by Juby Babu in Mexico City; Editing by Mohammed Safi Shamsi)
