The former trackball smartphone maker unveiled new cybersecurity software dubbed Jarvis at the Detroit Auto Show on Monday. Offered on a pay-as-you-go-basis, automakers gain online access to Jarvis and can scan software for security threats. Evaluations can take place on new software and technology already inside of existing automobiles. Blackberry called out a new partnership with Jaguar-Land Rover as an early win.
In the age of the connected car, preventing hacks of critical components is paramount. To that end, Blackberry looks to have scored a nice win with Jarvis.
Blackberry's focus on software more broadly mostly explains why investors have sent the company's stock soaring 80% over the past two years.
Adjusted third-quarter earnings came in at 3 cents a share, beating Wall Street estimates that called for a break-even quarter. The period was boosted by strength in business software and licensing sales. Intellectual property and licensing sales spiked 67% to $50 million reflecting BlackBerry's transition to being a play on software.
Blackberry CEO Chen told TheStreet in October that BlackBerry's transformation is largely complete, and more of a push into the connected life lays ahead.
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