BlackBerry stocks have soared thanks to a 12% rise in revenue this quarter, despite and overall lost of over $200 million.
In the ever-changing world of mobile, it can be difficult to predict just what might happen with regards to companies and stocks. Despite BlackBerry losing revenue this quarter, it seems that their stocks have soared by +5.77% at the time of writing. Revenue fell by $235 million to $548 million but still managed to beat the FactSet consensus of $489 million, meaning a positive result for the company. This is likely due to a combination of strong software revenue and the Priv, which has surprised critics by adopting Android and turning out to be quite a decent device.
It’s a decent result for BlackBerry and manages to recover them in some way from the 29% stock drop they’ve had over the past year. It’s a steady improvement that shows the company isn’t quite dead yet, rather it’s treading water and managing not to drown.
Hang in there BlackBerry, we’re rooting for you!
For more on BlackBerry, visit What Mobile’s dedicated BlackBerry page.