Shares of BlackBerry (BBRY) closed up 13% Thursday on heavy trading volume of about 40 million shares versus the monthly average of about 4.5 million shares, after the mobile communications solutions provider reported stronger-than-expected second-quarter financial results.
Blackberry also posted record sales in its software business, while also hiking its fiscal-year revenue forecast. BlackBerry's software and services revenue hit a record $196 million during the quarter.
For the quarter, Blackberry reported earnings of 5 cents per share, versus the consensus projection that the company would break even. Revenue came in at $249 million, beating the average analyst forecast of $220 million.
The Waterloo, Ontario-based firm said it now expects fiscal-year revenue of between $920 million to $950 million, positive earnings per share, and positive free cash flow.
Blackberry is also projecting 10% to 15% growth in software revenue growth for this fiscal year.
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