Blackberry shares soared after the company beat analysts earnings forecasts. John Chen, CEO of Blackberry, joined us to break down the results. Blackberry's results were boosted by an increase in business software sales and licensing revenue. Chen says Blackberry has 2 major focuses. The first is the enterprise software business and the other is the auto sector. Blackberry has been in the auto business for 8-10 years, but made a bigger push about 4 years ago, he points out. Chen says there are 60 million cars on the roads using blackberry software. Looking forward, the company is working on designing new components such as lane-changing and communication capabilities with other cars and infrastructure. He sees a huge opportunity in the space, emphasizing that about 100 million cars are made every year.

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What's Next for Auto Industry After White House Semiconductor Shortage Meeting
The global semiconductor shortage is actively hurting numerous industries, with the auto industry itself on pace to lose $210 billion by the end of the year. Brad Wimmer, EVP at Auto Lenders, joined Cheddar to discuss a White House meeting surrounding chip shortages and how industries can find a way to move forward. He noted that the end of the shortage is unlikely if the U.S. continues to depend on outside manufacturers. "We need consistent momentum and clarity, and we do not have that right now," Wimmer said. "So, I think this is going to continue into 2023."
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