Is BlackBerry Stock a Buy?
In March 2019, BlackBerry (NYSE: BB) posted its first quarter of positive annual revenue growth in years. It achieved that turnaround by halting the production of its smartphones, expanding its software and services ecosystem, and aggressively collecting fees from its patent portfolio.
But that five-quarter streak abruptly ended in the first quarter of its fiscal 2021, which ended on May 31 and included the heavy early impact of the COVID-19 crisis. BlackBerry's revenue fell 20% year over year to $214 million, but it squeezed out a slim adjusted profit of $0.02 per share -- up from a penny a share last year. Does BlackBerry's revenue decline indicate that darker days are ahead? Or will it be able to resume its second-act turnaround after the pandemic-related headwinds ease?
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Source Fool.com
