BlackBerry Q2 Earnings Preview: QNX's Diversification Sparks A Potential Rebound (Ratings Upgrade)

After the stock prices faded from $13.00 to below $8.00, BlackBerry is upgraded to 'Buy' ahead of Q2 earnings, following strong Q1 results and improving growth metrics. QNX, BB's core growth engine, posted record developer license revenue and boasts a nearly $1 billion royalty backlog. BB forecasts FY27 operating cash flow of ~$100 million, supported by $423 million in cash and investments at Q1 end. Risks include automotive sector headwinds and China robotics exposure, but QNX's diversification into industrial and safety-critical markets underpins long-term upside.

On Thursday, September 24, 2026, BlackBerry Limited (BB) will report its second-quarter earnings results. In my last earnings preview, I downgraded BB stock from its previous three buy ratings to a hold.