Why BlackBerry Stock Plunged Today
BlackBerry's (NYSE: BB) stock price sank 9.7% Wednesday, following the release of the software company's fourth-quarter earnings results.
BlackBerry's revenue fell 25% year over year to $210 million. That was well below the $245 million Wall Street had expected.
The software maker said talks to sell some of its mobile devices, messaging, and wireless networking patents to a "North American entity" contributed to the revenue shortfall. The negotiations led BlackBerry to delay sales activities that could have resulted in higher licensing revenue during the quarter.
Source Fool.com
