Summary:
Blackberry (BB) Stock Weekly Chart
The company reported earnings per share of $0.11 and total revenue of $257 million, above analyst estimates of $0.05 and $240 million. However, the company only provided limited guidance with regard to software billings increasing by over 10%.
Nonetheless, CEO John Chen proclaimed that he transformed Blackberry, “From a company that does $6 billion in revenue but losing money and burning cash, to a company that does over $1 billion in software revenue making money and generating cash.”
In analyzing the market cycles for BB, we can see that the stock is still in the rising phase of its current cycle. Our work shows it set up for further gains this later year. A minor pullback towards the end of this cycle could be a nice opportunity for investors.