BlackBerry stock surges on positive earnings report

BlackBerry stock has surged after its Q1 earnings report, surprising Wall Street by beating revenue expectations.

The company’s revenue beat expectations, with a share revenue of 100 and 33 million, which was a narrower than expected quarterly loss. Companies are on track to be both profitable on a non-gap basis and in positive cash flow in the fourth quarter.

Despite the stock’s recent struggles, analysts suggest that near-term profitability visibility is improving, but long-term challenges remain due to competition in the space. Near-term stabilization in terms of profits in the company’s overall business could help lift valuation levels from some of the bottoms. However, the stock is currently struggling, and it remains to be seen what the future holds for a company like BlackBerry.