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.
Ten electric or plug-in hybrid vehicles will be eligible for a $7,500 U.S. tax credit, while another seven could get $3,750 under new federal rules that go into effect on Tuesday.
Amazon has confirmed that its voice assistant service Alexa and cloud computing division Amazon Web Services (AWS) are back in business after a short outage over the weekend.
Norwegian battery startup Freyr is planning its next factory in an Atlanta suburb because a new U.S. clean energy law offers generous tax credits for local production.
