Why BlackBerry Ltd. Stock Popped Today

Shares of BlackBerry Ltd. (NYSE: BB) were up 9.9% as of 1:30 p.m. EST Wednesday after the enterprise software company announced better-than-expected quarterly results.

For its third quarter of fiscal 2018, BlackBerry's GAAP quarterly revenue fell 21.8% year over year to $226 million, which translated to a net loss of $275 million, or $0.52 per share. Excluding one-time items like acquisition expenses and restructuring charges, however, BlackBerry generated adjusted net income of $0.03 per share.

Analysts, on average, were looking for breakeven adjusted earnings on lower revenue of $212 million.

Source: Fool.com