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BlackBerry Misses Estimates Amid Auto Companies’ Chip Woes

Prime Minister Justin Trudeau and Blackberry CEO John Chen Press Conference
Photographer: David Kawai/Bloomberg
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BlackBerry Ltd. reported lower-than-expected earnings and revenue for the fiscal first quarter. The shares rose slightly in extended trading in New York.

“This quarter we aligned the business around the two key market opportunities -- IoT and Cyber Security,” Chief Executive Officer John Chen said in a statement. “In IoT we are pleased with the strong progress of the auto business, despite global chip shortage headwinds.”