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Canadian software giant BlackBerry Ltd beat Wall Street estimates for third-quarter revenue on Tuesday, helped by strong demand for its cybersecurity services due to the pandemic-led shift to remote working.

Demand for cybersecurity software has been robust as more businesses migrate to cloud-based solutions to support remote work during the COVID-19 pandemic.

The rise of electric-vehicle and connected-car technologies have also aided sales of BlackBerry’s QNX software, used by automakers including Volkswagen, BMW and Ford Motor.

BlackBerry reported a net profit of $74-million in the third quarter, compared with a loss of $130-million a year earlier.

Revenue fell to $184-million for the quarter ended Nov. 30, from $218-million a year earlier, but beat analysts’ average expectation of $177.25-million, according to IBES data from Refinitiv.

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