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Is BlackBerry Stock a Buy Now?

TheMotleyFool

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Is BlackBerry Stock a Buy Now?: https://g.foolcdn.com/editorial/images/702721/it-security-employee.jpg

BlackBerry (NYSE: BB) posted its earnings report for the second quarter of fiscal 2023 (which ended on Aug. 31) on Sept. 27. The Canadian cybersecurity and Internet of Things (IoT) software maker's revenue fell 4% year over year to $168 million, but still beat analysts' estimates by $2 million.

Its adjusted net loss narrowed from $33 million to $29 million, or $0.05 per share, which also cleared the consensus forecast by $0.02. However, BlackBerry's stock still slipped after the report and remains down nearly 50% so far this year. Is it time to take the contrarian view and buy BlackBerry?

Image source: Getty Images.

Source Fool.com

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