Blackberry (TSX:BB) stock rose 3% on Thursday after the Canadian company lifted its fiscal 2026 revenue forecast, buoyed by stronger demand for its cybersecurity software.
The former smartphone maker, now focused on protecting corporate networks, said it expects annual sales of $519 million to $541 million.
That’s an increase from its earlier range of $508 million to $538 million. The company pointed to growing enterprise spending on security tools as businesses confront new risks opened up by artificial intelligence.
Second-quarter results reinforced the upbeat view. BlackBerry posted revenue of $129.6 million, topping Wall Street expectations of around $122 million. Earnings came in at 2 cents a share, reversing a year-earlier loss of 3 cents.
The company’s cybersecurity unit has become its main growth driver, with customers seeking more robust protection as online threats multiply. BlackBerry said it would continue investing in this area to build on momentum.
The shares rose 12 cents to $4.40.