BlackBerry Limited (BB - Free Report) recently announced that it has launched the latest version of its automotive acoustics software — QNX Acoustics Management Platform (AMP) 3.0.
This is a flexible system that allows automakers to activate just the features they need across their product line. With AMP 3.0, automakers can design the entire acoustic experience in their cars. As a result, it would minimize costs, shorten time-to-production, and deliver new features and high-quality sound.
QNX AMP 3.0 offers a unified approach to manage acoustics in the car and lets subsystems to work in unison seamlessly. It allows automakers to manage car acoustics with a single software solution. It brings together a package of automotive acoustic features including QNX Acoustics, QNX ICC, QNX Active Sound Design, QNX Software Audio Management, and QNX Chimes and Safety Alerts.
In June 2019, BlackBerry said that its flagship QNX software was embedded in more than 150 million cars present on road. The feat marked an increase of 30 million cars since the company presented its automotive footprint in 2018. It is poised to benefit from surge in its business, while providing one of the most secure mobile enterprise solutions in the market.
Automotive original equipment manufacturers are using BlackBerry QNX technology in their cutting-edge driver assistance systems, digital instrument clusters, connectivity modules, handsfree systems, and infotainment systems that can be seen in prominent car brands.
In the last earnings report, the company’s GAAP revenues increased 16% year over year to $247 million. Software and services revenues were $240 million, up 27%. Geographically, North America generated revenues of $160 million compared with $139 million in the year-ago quarter. Revenues from Europe, Middle East and Africa were $61 million, up 17.3% year over year, while revenues from other regions totaled $26 million, up 18.2%.
Strong software sales continue to aid the company’s top line. Growth in its cybersecurity business is also a huge positive. BlackBerry continues to invest in the right opportunities to drive long-term growth and profitability. It beat earnings estimates thrice in the trailing four quarters, with an average positive surprise of 81.3%.
Backed by robust product cycle, BlackBerry’s shares have added 0.6% against the industry’s decline of 7.3% in the year-to-date period.
Zacks Rank & Stocks to Consider
BlackBerry currently has a Zacks Rank #3 (Hold). A few better-ranked stocks in the broader industry are Viasat, Inc. (VSAT - Free Report) , Nokia Corp. (NOK - Free Report) and Sonim Technologies, Inc. (SONM - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Viasat surpassed earnings estimates in each of the trailing four quarters, the average surprise being 230.6%.
Nokia surpassed earnings estimates thrice in the trailing four quarters, the average positive surprise being 89.3%.
Sonim has long-term earnings growth expectation of 25%.
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