BlackBerry raises annual revenue forecast on robust demand for cybersecurity services
[MEXICO CITY] Canada's BlackBerry raised its annual revenue forecast on Tuesday (Jun 24), anticipating steady demand for its cybersecurity services amid growing online crimes, sending the company's US-listed shares up 6 per cent 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 US$508 million to US$538 million, up from its earlier forecast of US$504 million to US$534 million.
The company also raised its annual revenue forecast for its secure communications segment, which provides intelligent security software to enterprises and governments.
It expects revenue between US$234 million and US$244 million for the unit, from its prior forecast of US$230 million to US$240 million.
The Waterloo-based company's revenue for the quarter ended May 31 stood at US$121.7 million, below US$123.4 million reported last year.
Revenue in its QNX business rose 8.1 per cent year on year to US$57.5 million, while revenue from its secure communications unit fell 7.3 per cent to US$59.5 million in the first quarter. REUTERS
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
an hour ago
- CNA
Canada rescinds digital services tax in bid to advance trade talks with US
Canada has rescinded its digital services tax targeting United States technology firms in a bid to advance trade negotiations with the US, Canada's finance ministry said in a statement on Sunday (Jun 29), days after US President Donald Trump called off trade talks. Canadian Prime Minister Mark Carney and Trump will resume trade negotiations in order to agree on a deal by Jul 21, 2025, the ministry said. On Friday, Trump abruptly cut off trade talks with Canada over its tax targeting US technology firms, saying that it was a "blatant attack" and that he would set a new tariff rate on Canadian goods within the next week. The tax was 3 per cent of the digital services revenue a firm takes in from Canadian users above US$20 million in a calendar year and payments will be retroactive to 2022.
Asia News Network
an hour ago
- Asia News Network
Indonesian exporters grapple with global shift to higher-grade coal
June 30, 2025 JAKARTA – Indonesia's coal industry faces mounting pressure as key export markets China and India shift to coal with higher calorific value (HCV) and ramp up production to meet domestic demand. Faced with shrinking export opportunities, Indonesian coal miners are scrambling to realign their strategy by diverting sales to the domestic market and tightening costs. They are also urging the government to roll back regulations that add financial strain in an already challenging market. In the first five months of 2025, Indonesia's thermal coal exports to China and India slumped 12.3 percent and 14.3 percent, respectively, outpacing the overall drop in the two countries' coal imports of 10 percent in China and just over 5 percent in India. Asia's two largest economies are increasingly turning to alternative suppliers, particularly those that offer higher-grade coal. In the January-May period this year, Mongolia's coal exports to China surged 44.8 percent while South Africa's coal shipments to India jumped 26.1 percent. '[HCV] coal is more expensive but yields more energy for every dollar spent,' Vasudev Pamnani, director at Indian coal trader i-Energy Natural Resources, told Reuters during an interview. 'One million tons of [HCV] coal can replace up to 1.5 million tonnes of Indonesian supply,' he said. Analysts noted that Indian coal traders had increased their purchases from Kazakhstan, Colombia and Mozambique, favoring their higher-grade offerings. At the same time, Indonesian exports of medium calorific value (MCV) and lower calorific value (LCV) coal to China are being squeezed by discounted Russian commodities of similar grades and price-competitive Mongolian coal. The pivot comes as China and India ramp up domestic coal production, with the former hitting 4.9 billion tonnes and the latter surpassing the 1-billion-tonne mark, reducing their reliance on foreign supply. Meanwhile, global trade tensions exacerbated by the United States' tariff policies have weighed on broader regional economic growth, further softening demand for the energy commodity. 'The decline in coal demand is not just regional, it is global,' Ardhi Ishak Kosen, head of industrial relations at the Association of Indonesian Mining Professionals (Perhapi), told The Jakarta Post on Thursday. 'Producers are increasingly turning to domestic markets, but the growth of local demand is limited,' he said. According to Ardhi, national coal output is projected to decline from 836 million tonnes in 2024 to below 800 million tonnes this year. Overproduction remains likely however, as domestic demand is expected to reach only between 250 million and 260 million tonnes compared to 233 million last year. 'Mining equipment is underutilized, some machines stand idle, while others run on reduced hours or not at all,' he continued, referring to the types of operational inefficiencies that could ensue. Shift to smelting Gita Mahyarani, acting executive director of the Indonesian Coal Mining Association (APBI), said local miners were increasingly turning their attention to the domestic market to cushion the blow from falling exports. They were particularly tapping into the rapidly expanding mineral smelting industry, she said, which is expected to absorb 31.2 percent of this year's domestic market obligation (DMO). Electricity remains the dominant domestic consumer sector however, accounting for 58 percent of the 2025 DMO. Domestic coal deliveries now make up 48.6 percent of the national supply, the highest share in over a decade, according to government data reviewed by Reuters. With global prices under pressure, smelters have emerged as a more lucrative market, offering better profit margins than coal sales to the local power utility sector, which is heavily regulated. Gita noted that producers were prioritizing the fulfillment of existing contracts. They were especially focusing on countries still reliant on MCV coal 'in the Southeast Asian region, where the use of coal-fired power plants remains high [and] continue to show solid demand for [MCV] coal, and their proximity offers a logistical advantage', she told the Post on Thursday. She added that cost efficiency also had become a top priority as mining firms looked to maintain competitiveness. Regulatory burdens Ardhi from Perhapi suggested that coal producers should improve operational efficiency and reduce capital expenditures to remain competitive. He also called on the government to revoke policies that increased the financial burden on producers, such as the mandatory use of B40 blended biodiesel and the requirement to keep a portion of their export foreign exchange earnings (DHE) in the country. According to a Bloomberg report on May 27, some buyers have pointed to the country's coal reference price (HBA), which remains higher than prevailing global market rates, as a contributor to the decline in Indonesian exports. In force since March 1, the use of HBA as the basis for export shipments was originally intended to prevent sales of Indonesian coal below domestic benchmark prices. Surya Herjuna, director of coal business development at the Energy and Mineral Resources Ministry, has dismissed the idea, however. He noted that domestic sales had also slowed, falling to 12 million tonnes in the first quarter this year from 16 million tonnes over the same period last year, attributing the decline to geopolitical tensions. The ministry set the HBA at US$98.61 per tonne for the second half of June, down 2.33 percent from $100.97 in the first half of the month, marking a 23 percent decline from the pricing rule's implementation in March.
Business Times
2 hours ago
- Business Times
One Championship to relocate global production hub from Singapore to Bangkok
[SINGAPORE] One Championship announced on Monday (Jun 30) that it will relocate its global production hub from Singapore to Bangkok, with the move aiming to 'centralise production' and better support the company's expanding content operations. The mixed martial arts organisation, which was founded 14 years ago in 2011, said it will continue to maintain its global corporate headquarters in Singapore. One Championship's chairman and chief executive Chatri Sityodtong said that Thailand has played a key role in the company's global production efforts over the past two-and-a-half years. 'As we scale our operations, this move allows us to centralise production and improve coordination, while continuing to grow our event and content output,' he added. Sityodtong said the move to make Bangkok as the primary production base for global content delivery is 'a step forward in our evolution as a global sports media property'. 'We remain committed to Singapore while reallocating resources to where it makes the most operational sense,' he said. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up The statement on Monday said that Bangkok has 'steadily grown in operational importance' for One Championship, with the weekly One Friday Fights event taking place at the Lumpinee Boxing Stadium in the Thai capital. These shows are broadcast to some 195 countries during Asia prime-time hours. A recent Nielsen study estimated that One Championship generates US$470 million annually in economic value for Thailand. 'Given the scale and consistency of these events, consolidating production in Thailand is a logical next step operationally,' the statement said. 'The company has also aggressively adopted artificial intelligence-powered tools for its global content engine across all platforms, boosting productivity and efficiency while streamlining operations.' The statement did not say how many employees, if any, would be impacted by the relocation of the global production hub to Bangkok. When approached for comments, One Championship's co-founder and group president Teh Hua Fung told The Business Times that the relocation is an ongoing process. The plan in the near term is to hire an additional 50 people in Thailand, of which 20 have already been recruited. 'Singapore is still the country with the most staff today, and also remains our global corporate headquarters,' said Teh, adding that Singapore is home to the company's senior leadership, investor relations and strategic planning. Last October, it was reported that One Championship laid off a few dozen employees as part of a cost-cutting strategy to bring the company to profitability. In an internal e-mail sent to staff on Oct 16, Sityodtong wrote that the company was 'on the verge' of profitability on the back of 'record revenues and cost efficiencies', alongside strong viewership numbers. The company has continued to achieve 'new highs' in its key markets, especially across Asia, he said then. Fighters in action at the One Friday Fights shows in Bangkok. These shows are broadcast to some 195 countries during Asia prime-time hours. PHOTO: ONE CHAMPIONSHIP Growing revenues One Championship re-domiciled to the Cayman Islands in 2022 as part of its long-term capital planning and corporate structuring. Based on latest available figures provided to BT on Monday, the company's annual revenues over the last five financial years have shown a steady increase. Revenue for FY2020 stood at US$57 million, and this went up to US$68 million (FY2021), US$84 million (FY2022) and US$128 million (FY2023). The expected revenue for FY2024 is US$143 million. 'Our revenue has been growing steadily year on year and will be approaching US$200 million this year,' said Teh. Apart from the One Friday Fights in Bangkok, One Championship continues to stage events in other parts of the world. Earlier this year, there was a major show in the Qatari city of Lusail in February, as well as in the Japanese city of Saitama in March. Its website stated that the next two events outside of Thailand will take place in Tokyo in November, and in the US state of Colorado in June 2026. The latter event was originally scheduled to take place this August, but it was moved to next June after the advertised main event and several other world championship bouts could not take place as scheduled. The last time One Championship held a live event in Singapore was the One Fight Night show in September 2023 at Singapore Indoor Stadium in Kallang.
