BlackBerry Shares Jump 19.95% After $152.9 Million Revenue Beat
Updated
Updated · Barchart · Jun 28
BlackBerry Shares Jump 19.95% After $152.9 Million Revenue Beat
1 articles · Updated · Barchart · Jun 28
Summary
BlackBerry surged 19.95% after its June 25 earnings report showed non-GAAP EPS of $0.04 and revenue of $152.9 million, topping expectations by more than $15 million.
25.6% year-over-year revenue growth was driven by its software pivot, with QNX revenue rising 26% to $72.3 million and Secure Communications climbing 24% to $73.6 million.
QNX now contributes more than half of total revenue, runs in over 275 million vehicles, and carries a roughly $950 million royalty backlog that gives BlackBerry visibility into future auto software sales.
The rally extends a 200% year-to-date gain, but investors are paying up: BlackBerry trades at 60.82 times trailing earnings versus a sector median of 25.34.
Analyst sentiment has improved with eight firms at a Moderate Buy, though the average price target of $7.81 still sits below the stock's current level after the post-earnings spike.