BlackBerry Stock Extends 7% Rally on Q1 Earnings Beat; Revenue Hits $152.9M, Up 26%

According to Morningstar analyst William Kerwin, BlackBerry (BB) stock extended its earnings-day rally on Friday, gaining nearly 7% following solid first-quarter results that beat consensus estimates. The company reported Q1 revenue of $152.9 million, up 26% and ahead of the $137.9 million estimate, with adjusted earnings per share of $0.04, one cent above expectations. BB stock closed with 20% gains the previous day.

For the full year, BlackBerry expects revenue between $594 million and $621 million, with adjusted EPS between $0.16 and $0.20, with both metrics' midpoints ahead of consensus. Kerwin noted that the company's QNX and Secured Communications businesses offer "solid growth runways" within market niches, driven by BlackBerry's core technology.