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Company News

BUZZ-BlackBerry races to 5-month high after profit beat, higher revenue forecast

(Adds milestone, Toronto shares, CEO quote; updates NY shares)

** Shares of Canadian software company rise as much as 15 pct to C$13.71; trading at more than a 5-month high

** U.S.-listed shares up 15 pct, among top pct gainers on the NYSE

** Co reports Q4 adj. profit of 11 cents/shr vs est. of 6 cents/shr, according to IBES data from Refinitiv

** Forecast revenue growth of 23 pct to 27 pct for fiscal 2020, implying total revenue of between $1.13 bln and $1.16 bln vs analysts’ est. of $1.09 bln

** Technology and solutions segment revenue, including software for automotive, rises ~20 pct

** “We are winning the lion’s share of the deals” in the market for embedded software in auto - CEO John Chen

** Including Friday’s gains, Toronto-listed stock up ~40 pct this year, while U.S.-listed shares have risen ~44 pct in the same period (Reporting by Shradha Singh and Debroop Roy in Bengaluru)

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