Could BlackBerry's Q1 Earnings Beat Further Fuel The Stonk Rally?

Benzinga2021-06-25

Canada-based security software company BlackBerry Limited (NYSE:BB), a Reddit-favorite stock, reported first-quarter earnings that matched analysts’ expectations while revenues beat estimates.

What Happened: BlackBerry’s first-quarter net loss narrowed to $62 million, or $0.11 per share, from $315 million or $0.56 per share in the year-ago quarter.

Adjusted loss was $0.05 per share, while revenue fell 17% from the year-ago period to $174 million. Analysts, on average, had expected the company to report an adjusted loss of $0.05 per share on sales of $171.25 million.

Why It Matters: BlackBerry is among the so-called stonks — stocks favored by the retail crowd. The stock continues to see high interest on Reddit’s r/WallStreetBets forum and its year-to-date gains stand at 91.25%.

Blackberry’s earnings results appeared to please the company’s supporters, based on the posts on the WSB forum.

A user with the handle u/TexasThrowDown on the WSB forum noted that “BlackBerry isn't a squeeze play, but a long-term value play.”

“BBTO100!!! To the moon and #MARS!,” read another post.

Price Action: BlackBerry shares closed 3.5% lower in Thursday’s regular trading session at $12.68.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Rayyyljh
2021-06-26
Rayyyljh
Oo
Aaronnew
2021-06-25
Aaronnew
What happened to the meme power..
Crafty88
2021-06-25
Crafty88
Could it be the other way round ?
Altas
2021-06-25
Altas
Let’s go
BhaskarB
2021-06-25
BhaskarB
Probably
Dijeo
2021-06-25
Dijeo
?
- Dijeo:
  .

Leave a comment

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