By midday, shares had spiked 11.1% to $9.21. Trading volume of 49.2 million shares was nearly six times its three-month daily average.
Over its May-ended quarter, the company recorded a net loss of 11 cents a share, smaller than analysts' estimates of a 26-cents-a-share loss. Revenue of $966 million exceeded forecasts of $963.2 million, according to those surveyed by Thomson Reuters.
Separately, TheStreet Ratings team rates BLACKBERRY LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate BLACKBERRY LTD (BBRY) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."
- You can view the full analysis from the report here: BBRY Ratings Report