According to the Reuters, Blackberry’s share value (BBRY) increased 9.4% to $9.08 at the premarket. In fact, it has even outperformed CNNMoney and NASDAQ. The Canadian Smartphone maker will hope to continue its improved performance in the future, given that its first-quarter loss was less than expected. So investors can hope for a payoff. The first-quarter loss was about 11 cents per share, bringing the total to about $60 million. According to Thomson Reuters, this is less than half of what analysts had expected-25 cents per share or 136 million dollars. Blackberry reported a profit margin increase to 46.7% from 33.9% reported the year before.
Reports on the company’s stock prices show that the company could have more lives than a cat because it seems to bounce back every time it is rattled by plummeting stock value.
While BlackBerry’s stock has never consistently performed as well as the competitors like Microsoft (MSFT) and Apple (AAPL), it is having a better year than the two. Interestingly, Google’s shares (GOOGL) are also down this year while Samsung hasn’t any positive change either.
So the question is: why is Blackberry doing better in the market considering the fact that the company keeps losing money as well as subscribers. As a matter of fact, the company experienced huge drops in sales in its fiscal first quarter this year.
But all hope is not lost because Blackberry has a way of resurrecting itself. For instance, its Chief Executive John Chen has said the company is trying to connect all types of devices to the internet. The company has already made a huge entry into the connected car market and thanks to its DNX operating system which was purchased from Harman International in 2010.
Latest posts by Michael Duvall (see all)
- Money, now also growing on trees - November 25, 2014
- The Future of Mobile Banking is Bright - August 21, 2014
- Need a Great Job? Here Are Some of the Top Companies To Work For In 2014 - August 14, 2014