Why Is BlackBerry Stock Rising Today?

Zinger Key Points
  • BlackBerry and AMD team up, integrating QNX software with AMD Kria K26 SOM for advanced hardware solutions.
  • On April 3, BlackBerry reported fourth-quarter FY24 results. Revenue of $173 million came better than $151 million a year ago.

BlackBerry Limited BB shares are trading higher in the premarket session on Tuesday.

The company announced a collaboration with Advanced Micro Devices, Inc. AMD, designed to revolutionize next-generation robotic systems by enabling new levels of low latency and jitter, as well as repeatable determinism.

The companies will address the critical need for ‘hard’ real-time capabilities in robotics-focused hardware with an affordable and powerful platform that delivers enhanced performance, reliability, and scalability for robotic systems in industrial and healthcare.

The platform merges BlackBerry QNX expertise in real-time foundational software solutions with the AMD Kria K26 SOM, integrating Arm and FPGA programmable logic-based architecture.

With Kria, an Arm sub-system can power the advanced capabilities of the QNX microkernel real-time operating system (RTOS) while allowing users to run low latency, deterministic functions on the programable logic of the AMD Kria KR260 robotics starter kit.

“An integrated solution by BlackBerry QNX through our collaboration with AMD will provide an integrated software-hardware foundation offering real-time performance, low latency and determinism, to ensure that critical robotic tasks are executed with the same level of precision and responsiveness every single time,” said Grant Courville, VP Product & Strategy at BlackBerry QNX. 

“Together with AMD, we are committed to driving technological advancements that address some of these most complex challenges and transform the future of the robotics industry,” Courville added.

On April 3, the company reported fourth-quarter FY24 results. Revenue of $173 million came better than $151 million a year ago, beating the consensus of $154.8 million.

According to Benzinga Pro, BB stock has lost over 35% in the past year. 

“Despite industry delays to automotive software development programs, our IoT division delivered its strongest ever quarter for revenue, as well as its best year for adding new QNX royalty backlog from design wins that resulted in 27% year-over-year growth to approximately $815 million,” said John J. Giamatteo, CEO, BlackBerry. 

Price Action: BB shares are trading higher by 2.78% to $2.96 premarket on the last check Tuesday. 

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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