BlackBerry warns of economic impact on cybersecurity business

Published by
Reuters UK

(Reuters) -BlackBerry Ltd said on Tuesday the sales cycles for its cybersecurity software have become longer and it expects the current macroeconomic environment to pose more challenges in the near term. The Canadian technology company said revenue from the cybersecurity business would remain flat in the first half of 2023, but grow in the latter half of the year. Cybersecurity businesses have not been as affected by economic swings compared to other software sectors that are grappling with clients’ lower spending budgets amid rising costs. BlackBerry Chief Executive John Chen said the cyberse…

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