Why BlackBerry Stock Fell 24.1% in September
Shares of BlackBerry (NYSE: BB) dropped 24.1% in September, according to data from S&P Global Market Intelligence, after the enterprise software and services specialist announced disappointing fiscal second-quarter 2020 results. To be sure, virtually all of BlackBerry's plunge last month came on September 24 -- the first trading day after its quarterly update hit the wires.
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That's not to say BlackBerry's quarterly results looked bad at first glance. After all, its non-GAAP (adjusted) revenue climbed 22% year over year to $261 million, translating to slightly better-than-expected break-even earnings on an adjusted per-share basis. But that top line also arrived well below the $266 million most analysts were anticipating and -- perhaps less concerning -- marked a slight deceleration from the 23% growth BlackBerry achieved three months earlier.
Source Fool.com
