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Is BlackBerry Stock a Buy Now?

TheMotleyFool

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Is BlackBerry Stock a Buy Now?Photo, wide shot, wide-angle lens, Cable TV provider, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.midjourneyapi.xyz/temp/51ec7f0d-2b5e-41f6-baa4-43bf0f5d7e7d.png

's (NYSE: BB) stock jumped 7% on June 29 after the enterprise software company posted its latest earnings report. For the first quarter of fiscal 2024, which ended on May 31, its revenue rose 122% year over year to $373 million and beat analysts' estimates by $214 million.

Its adjusted profit of $0.06 per share also marked an improvement from its loss of a nickel a year ago and cleared the consensus forecast by $0.11. That earnings beat was impressive, but does it indicate BlackBerry's stock is finally ready to recover after being cut in half over the past two years?

Image source: Getty Images.

Source Fool.com