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BlackBerry surges 15% after being awarded $814.9 million in Qualcomm arbitration

Reuters,Nathan McAloneAug 14, 2024, 14:29 IST

Thomson ReutersBlackBerry said on Wednesday Qualcomm was asked to pay the Canadian company about $814.9 million in an interim arbitration decision over royalty overpayments.

Blackberry's stock surged over 15% in pre-market trading on the news.

The companies in 2016 decided to arbitrate a dispute over Qualcomm's agreement to cap certain royalties applied to payments made by BlackBerry under a licensing deal.

(Reuters reporting by Ahmed Farhatha in Bengaluru; Editing by Sriraj Kalluvila.)