Why Blackberry Got Squashed on Wednesday
Shares of BlackBerry (NYSE: BB) were falling about 8% on Wednesday, as of 11 a.m. ET. The Canada-based tech company is famous for pioneering the personal handsets decades ago, but has since pivoted its business completely to software for both the cybersecurity and Internet-of-Things spaces.
In any case, the stock was down today based on the muted outlook given on last night's earnings call -- despite the company beating expectations in the third quarter.
In the third quarter, Blackberry saw revenue decline 8.2% to $169 million, with adjusted (non-GAAP) losses per share of $0.05. Despite the revenue decline and adjusted losses on the bottom line, those figures were actually ahead of expectations.
Source Fool.com
