BlackBerry stock pops after Q1 earnings beat

Shares of BlackBerry (BB) are rising as the company posted its first-quarter report, surprising Wall Street by beating revenue expectations.

Market Domination Anchors Josh Lipton and Alexandra Canal break down the latest development for BlackBerry and what it means for the stock moving forward.

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This post was written by Nicholas Jacobino

Video transcript

Blackberry that stock soaring after the release of their first quarter earnings which did see revenue beat expectations.

Of course.

Now Ali is a cyber security company puts a narrower than expected quarterly loss here.

It looks like a loss of three cents.

A share revenue did clock in at 100 and 33 million that did uh beat expectations.

Companies saying they are on track to be both profitable on a non gap basis and in positive cash flow in the fourth quarter um pop today though it's been, it's been a rough go for blackberry here.

Oh yeah, I mean just coming through some of these analyst notes here R BC capital has a $3 price target on the stocks, potentially more room to run there.

And they said that visibility to near term profitability is starting to improve, but that longer term there are still challenges that remain and when it comes to just the competition in this space.

Um All that being said though, it is encouraging to see that near term stabilization in terms of those profits in the company's overall business and that could help lift those valuation levels from some of the bottoms that we've seen.

But, but like you said, I mean, here to date the stock is struggling and this is just something where I, I wonder what the future is for, for a type of company like this.