Why BlackBerry Stock Fell Hard Today
Shares of BlackBerry Limited (NYSE: BB) were falling today after the company reported its fourth-quarter results. While BlackBerry beat analysts' consensus estimate for earnings, revenue fell below Wall Street's expectations.
The tech stock was down by 11.2% as of 12:24 p.m. ET.
BlackBerry surprised analysts by posting non-GAAP (adjusted) earnings per share of $0.01 in the fourth quarter, far above the $0.03 loss per share that Wall Street was expecting. But the company's sales of $185 million -- down 12% year over year -- missed analysts' consensus estimate of $208 million.
Source Fool.com
