BlackBerry forecasts full-year revenue growth

Published: May 17, 2023 at 3:06 p.m. ET

By

Wallace Witkowski

BlackBerry Ltd. BB, +0.97% said Wednesday it expects increased revenue in fiscal 2024 and compound annual growth of up to 15% over the next three years. The Internet-of-Things and cybersecurity company said it expects revenue of $665 million to $700 million in fiscal 2024 revenue, compared with $624 million in 2023, while analysts surveyed by FactSet had forecast $690.4 million. BlackBerry shares rose 3.5% recent activity, while the S&P 500 index was up 1.1%.

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Wallace Witkowski

Wallace Witkowski came to MarketWatch from the Associated Press in New York, where he covered the business of Big Pharma, after covering FDA regulation of many of the same companies, as well as medical devices, in the Washington, D.C., area. Based in San Francisco, his current focus is on the more exciting world of semiconductors, videogames and cybersecurity, when he's not churning out earnings coverage. Follow him on Twitter at: @wmwitkowski.