BlackBerry raised its annual revenue forecast on Thursday, betting on continued momentum for its QNX division following the completion of its turnaround efforts, sending its Toronto-listed shares up around 19%. The QNX division, which provides secure real-time operating systems for mission-critical embedded systems most notably in the automotive sector, saw revenue surge nearly 26% to $72.3 million during the first quarter ending May 31, and has a backlog of almost $1 billion in future royalties. BlackBerry now expects full-year 2027 revenue of between $594 million and $621 million, above its earlier projection of between $584 million and $611 million, and forecast annual QNX revenue of $295 million to $312 million, compared with its previous range of $290 million to $307 million. The company's secure communications division reported a 24% rise in revenue to $73.6 million, and total first-quarter revenue was $152.9 million, up 26% from the same period a year earlier.
BlackBerry LtdQNX division revenue surged 26% and backlog nears $1B, driving raised annual revenue forecast.