© offered through The Motley idiot Why BlackBerry stock Plunged today What happened BlackBerry's (NYSE: BB) inventory price sank 9.7% Wednesday, following the liberate of the utility business's fourth-quarter profits results.
So whatBlackBerry's earnings fell 25% yr over 12 months to $210 million. That turned into well beneath the $245 million Wall highway had anticipated.
The software maker mentioned talks to sell a few of its mobile devices, messaging, and wireless networking patents to a "North American entity" contributed to the income shortfall. The negotiations led BlackBerry to prolong sales actions that could have resulted in better licensing revenue right through the quarter.
a global semiconductor scarcity that has compelled motor vehicle manufacturers to curtail production also weighed on sales of BlackBerry's QNX working equipment for the automotive market. nevertheless, CEO John Chen highlighted one of the vital company's contemporary success during this key segment.
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"This has been a superb 12 months to navigate, besides the fact that children we're pleased with QNX's continued recovery, despite new challenges from the world chip scarcity," Chen spoke of in an announcement. "QNX now has design wins with 23 of the realm's accurate 25 electric powered car OEMs [original equipment manufacturers] and remains on path to return to a normal salary run price through mid-fiscal 2022."
Now whatBlackBerry's stock obtained caught up within the brief squeeze mania that helped to drive up the prices of stocks like GameStop and AMC enjoyment in contemporary months. however whereas day traders can quickly have an effect on market expenses, the long-time period value of a enterprise is subsequently decided with the aid of its revenue and profits. If BlackBerry's share fee is to move greater over time, investors will need to see enormous growth in these areas.
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Joe Tenebruso has no position in any of the stocks mentioned. The Motley idiot recommends BlackBerry. The Motley fool has a disclosure policy.
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