Is BlackBerry Stock a Buy Now?

's (NYSE: BB) stock jumped 7% on June 29 after the enterprise software company posted its latest earnings report. For the first quarter of fiscal 2024, which ended on May 31, its revenue rose 122% year over year to $373 million and beat analysts' estimates by $214 million.

Its adjusted profit of $0.06 per share also marked an improvement from its loss of a nickel a year ago and cleared the consensus forecast by $0.11. That earnings beat was impressive, but does it indicate BlackBerry's stock is finally ready to recover after being cut in half over the past two years?

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Source Fool.com