BlackBerry Stock Jumps 50% on Deal With Amazon Web Services for Connected Car Software

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BlackBerry shares were surging 53.5%, at $9.01, in recent trading.


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BlackBerry

shares have spiked more than 50% on Tuesday amid surging investor optimism about the company’s automobile sensor software platform, known as Ivy.

Having long ago moved on from its once-iconic mobile phones, BlackBerry (ticker: BB) Tuesday morning announced a deal with

Amazon.com’s

(AMZN) Amazon Web Services to jointly develop and market Ivy, which BlackBerry describes as “a scalable, cloud-connected software platform that will allow automakers to provide a consistent and secure way to read vehicle sensor data, normalize it, and create actionable insights from that data both locally in the vehicle and in the cloud.” The company said auto makers can use Ivy “to create responsive in-vehicle services that enhance driver and passenger experiences.”

The companies didn’t provide any financial details of the arrangement, but the announcement has had the effect of turning

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Tiger Global, Dragoneer Pump Fresh Funds in Unacademy, Valuation Jumps to $2 Bn

The fresh capital has knocked up the company’s valuation by almost 45 per cent since it entered the coveted unicorn club in September after raising USD 150 million funding led by Softbank at a valuation of USD 1.45 billion.

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Education technology startup Unacademy said on Wednesday it has raised an undisclosed amount from Tiger Global and Dragoneer Investment Group.

The fresh capital has knocked up the company’s valuation at USD 2 billion, an almost 45 per cent jump since it entered the coveted unicorn club in September after raising USD 150 million funding led by Softbank at a valuation of USD 1.45 billion.

Also Read: India Gets Its Second Edtech Unicorn As Unacademy Joins The Prestigious Club

“Today, I’m delighted

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Xiaomi’s profit jumps as smartphone shipments surge

SHENZHEN/SHANGHAI (Reuters) – Xiaomi Corp on Tuesday reported a 19% jump in third-quarter net profit, beating estimates, as the Chinese smartphone maker’s shipments over the quarter surged by 45.3% on a year earlier.

FILE PHOTO: People wearing protective face masks visit Xiaomi brand’s store, amid the outbreak of the coronavirus disease (COVID-19) in Kyiv, Ukraine October 22, 2020. REUTERS/Valentyn Ogirenko

Xiaomi has grabbed market share in China and Europe as its rival Huawei Technologies has faced U.S. sanctions that have hit its supply chain.

The company expects it will continue to gain market share after the latest round of U.S. sanctions against Huawei disrupted its supply chains in August..

Xiang Wang, Xiaomi’s president, when asked whether Huawei’s problems had helped Xiaomi, said that the company was “paying attention to what is happening into the market,” but was continuing with its own strategy.

Xiaomi’s smartphone revenue rose to 47.6 billion yuan,

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Unity Software Jumps After Loss Widened, Revenue Beat

Unity Software  (U) – Get Report shares climbed after the videogame publisher, in its first report as a public company, posted a wider-than-expected third-quarter net loss and revenue beat estimates.

Shares of the San Francisco publisher of games including “Lego Microgame” and “Fall Guys” at last check moved up 8.1% to $110.

The software company’s net loss widened to $144.5 million, or 97 cents a share, from a loss of $45.7 million, or 75 cents, in the year-earlier period.

Revenue jumped 53% to $200.8 million from $130.9 million. 

A survey of analysts by FactSet produced consensus estimates of a GAAP net loss of 33 cents a share, or an adjusted loss of 15 cents, on revenue of $186.9 million.

Customers that generated more than $100,000 of revenue increased to 739 from 553 a year earlier.

“Our robust growth has reinforced our confidence in the fundamental strength of our

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Unity’s first post-IPO report: Revenue jumps 53% to $200.8 million

Unity Technologies reported its first quarterly earnings as a public company today, with revenues for the third quarter ended September 30 hitting $200.8 million, up 53.3% from the same quarter a year ago.

Unity’s quarterly loss from operations was $141.7 million, or 70.6% of revenue, compared to a loss from operations of $41.7 million, or 31.9% of revenue, in the third quarter of 2019.

The third-quarter results were impacted by a one-time charge associated with restricted stock related to the initial public offering, as well as a charge related to the donation of 750,000 shares of the common stock to a charitable foundation upon closing of its initial public offering (IPO).

The non-GAAP loss from operations was $8.4 million, compared to a loss of $27.8 million a year earlier. On a per-share basis, the non-GAAP loss was 9 cents, compared to a loss of 67 cents a share a year

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Cisco Jumps on an Earnings Beat and Better-Than-Expected Guidance: 6 Takeaways

Unlike a lot of tech companies reporting in recent weeks, Cisco Systems (CSCO) went into earnings facing a pretty low bar. And it cleared that bar comfortably.

On Thursday afternoon, Cisco reported October quarter (fiscal first quarter) revenue of $11.93 billion (down 9% annually) and non-GAAP EPS of $0.76 (down 10%), topping FactSet consensus estimates of $11.85 billion and $0.70.

The networking giant also guided for January quarter revenue to be flat to down 2% annually, and for non-GAAP EPS to be in a range of $0.74 to $0.76. That respectively compares with consensus estimates for a 3.4% revenue drop and EPS of $0.73.

Separately, Cisco announced that it has hired Autodesk (ADSK) CFO R. Scott Herren to be its CFO, effective Dec. 18. The news comes three months after Cisco disclosed that CFO Kelly Kramer would be retiring once a successor is in place.

As of the time of

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China’s Tencent quarterly profit jumps 89%, beats forecast

By Pei Li



FILE PHOTO: Logo of Tencent is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing


© Reuters/TINGSHU WANG
FILE PHOTO: Logo of Tencent is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing

HONG KONG (Reuters) – Chinese gaming and social media giant Tencent Holdings Ltd reported on Thursday a forecast-beating 89% rise in quarterly profit, boosted by video games and advertising businesses. The world’s largest gaming firm by revenue booked a 38.5billion yuan ($5.8 billion) profit for the three months throughSeptember. That was ahead of an analyst average estimate of 30.81 billion yuan, according to data from Refinitiv.

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Revenue rose 29% to 125.4 billion yuan.

The Chinese giant has benefitted from healthy growth of paying users for video games in China and international markets. Its flagship game Honor of Kings reported a record 100 million daily active users in the first 10 months of 2020.

Tencent said that, following the COVID-19

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