Canadian software maker BlackBerry Ltd on Wednesday reported higher than expected quarterly revenue, as it benefited from its recent $1.4 billion bet on cybersecurity firm Cylance.
BlackBerry in February completed its acquisition of Cylance, whose software uses machine learning to preempt security breaches.
In the first quarter, adjusted revenue from Cylance was $51 million.
BlackBerry, once known for its phones, has pivoted to selling software such as those used in mobiles and by automakers, and more recently supplying technology to companies developing driverless cars.
BlackBerry’s revenue rose 23% to $267 million in the quarter.
The company’s net loss narrowed to $35 million in the quarter ended May 31, from $60 million, a year earlier.