Why BlackBerry Stock Soared Today

Shares of (NYSE: BB) rallied on Thursday, jumping as much as 13.8%, before retreating to a 6.7% gain at the end of the day's trading.

The jump came following the company's first-quarter earnings, in which BlackBerry beat revenue and earnings estimates by a huge amount. But much of that beat was due to a sale of the company's patents, which made up $235 million of the company's $373 million in revenue.

So, it wasn't quite the blowout investors might have thought when first glancing at results. In fact, the $235 million in patent sales was greater than the amount of the revenue beat over expectations. That means absent the sale, revenue would have actually come in a bit light.

Source Fool.com