Here's Why Shares of Blackberry are Higher in Wednesday's Session - TheStreet

Here's Why Shares of Blackberry are Higher in Wednesday's Session

Shares of Blackberry were higher Wednesday after reporting breakeven profit for the second quarter.
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Shares of Blackberry (BBRY) were higher Wednesday after reporting breakeven profit for the second quarter. Blackberry's breakeven earnings were better than the loss of $0.05 a share that analysts were expecting. But revenue of $334 million missed Wall Street's estimates by roughly $60 million. Blackberry will also outsource the development and design of its flagship smartphone as part of its software strategy -- which sent the shares higher despite its sharp drop in revenue. The company also said Steven Capelli will replace CFO James Yersh, who is leaving the company for personal reasons. Capelli was previously president of worldwide field operations at Sybase.

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