3 Reasons BlackBerry Stock Could Be a Steal
BlackBerry (NYSE: BB) has seen its share price collapse in the past few weeks after it released its most recent quarterly results.
While the enterprise software company disappointed investors and failed to meet expectations, the stock is still a good buy, and with its share price continuing to fall, it could be one heck of a deal. Here are three reasons why.
Although BlackBerry missed expectations, it wasn't the epic failure that the drastic fall in share price would have you believe. Sales were down from the previous quarter, but the company still saw good growth in its licensing segment, where revenue rose 26.8% from the prior year. Internet of Things (IoT) sales were down 2.9%, but BlackBerry explained that this was due to reorganizing the salesforce, which resulted in fewer deals being closed. It also trimmed the top end of its guidance for the year, but that, too, doesn't justify a drop of close to 30% in share price since the earnings release.
Source Fool.com
