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BlackBerry Lifts Revenue Forecast on Strong Cybersecurity Demand

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BlackBerry raised its fiscal 2026 revenue forecast on Thursday, citing robust demand for its cybersecurity software as businesses step up defenses against rising cyber threats fueled by advances in artificial intelligence.

The Canadian company now expects annual revenue of $519 million to $541 million, up from its previous range of $508 million to $538 million.

BlackBerry reported second-quarter revenue of $129.6 million, topping analysts’ estimates of $122.1 million, according to LSEG data. The company also posted earnings of 2 cents per share, compared with a loss of 3 cents a year earlier.

Enterprises have been investing heavily in cybersecurity software to protect digital infrastructure as hackers exploit new vulnerabilities. This trend has helped BlackBerry’s software business remain resilient even amid a challenging tech spending environment.

Following the announcement, BlackBerry’s U.S.-listed shares rose about 2% in premarket trading.

Adobe Lifts 2025 Revenue and Profit Outlook on AI and Design Software Demand

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Adobe (ADBE.O) raised its fiscal 2025 revenue and profit forecasts on Thursday, underscoring resilient demand for its creative software suite and growing monetization of its AI offerings. Shares rose about 3% in extended trading.

Forecast Upgrades

  • Revenue: Now expected at $23.65–$23.70 billion, up from $23.50–$23.60 billion.

  • Adjusted EPS: Raised to $20.80–$20.85, compared with prior guidance of $20.50–$20.70.

  • Q4 Guidance: Revenue of $6.08–$6.13 billion (in line with estimates) and EPS of $5.35–$5.40 (slightly above consensus $5.34).

Drivers of Growth

  • Adobe’s core products — Photoshop, Illustrator, InDesign, Acrobat — remain staples for enterprises, students, and creatives.

  • New user subscriptions continue to drive momentum, CFO Dan Durn told Reuters.

  • The company is leaning on its AI tool Firefly, which allows text-to-video and text-to-image generation, integrated into Adobe’s design platforms.

Challenges Ahead

  • Despite progress, Adobe’s shares are down 21% year-to-date, reflecting investor caution.

  • Analysts, including Jefferies, remain cautious about Firefly adoption, suggesting near-term revenue acceleration may be limited.

  • Competition from smaller, agile rivals like Figma is intensifying in the design collaboration space.

Recent Performance

  • Q3 revenue came in at $5.99 billion, topping estimates of $5.91 billion.

  • Adobe is under pressure to show returns on heavy AI investments, with investors watching closely how effectively Firefly translates into recurring revenue.

Salesforce Shares Slide as Weak Outlook Highlights Delayed AI Payoff

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Salesforce (CRM.N) shares fell nearly 8% on Thursday after the company issued a disappointing third-quarter revenue forecast, raising investor concerns that returns from its artificial intelligence investments may take longer to materialize.

The company projected revenue between $10.24 billion and $10.29 billion, with the midpoint falling short of analysts’ average estimate of $10.29 billion, according to LSEG data. Despite announcing a $20 billion expansion of its share buyback program, Salesforce’s muted guidance weighed heavily on investor sentiment.

The outlook comes as software companies face mounting pressure to prove that billion-dollar AI investments will deliver meaningful returns, even as customers scale back spending in an uncertain economic environment. Matt Britzman, senior equity analyst at Hargreaves Lansdown, said the guidance gives “bears fresh ammo amid mounting fears that the software sector is ripe for disruption.”

Salesforce has been rapidly integrating AI across its cloud services, including the 2024 launch of Agentforce, an AI-powered agent platform designed to automate workflows and improve margins. However, the company continues to face macroeconomic headwinds. Analysts at Oppenheimer described the growth outlook as “uninspiring,” noting challenges for front-office software suppliers this year.

Shares of Salesforce are down about 24% year-to-date. To strengthen its offerings, the company has returned to acquisitions, including its $8 billion purchase of Informatica in May. Still, Salesforce trades at a forward earnings multiple of 20.96—well below Microsoft’s 31.26 and Oracle’s 30.84—suggesting potential upside.

J.P. Morgan analysts said second-quarter results, which beat revenue expectations, alongside management’s positive commentary, indicate that Salesforce stock may be undervalued compared to peers, leaving room for recovery.