Why BlackBerry Stock Surged Today

·1-min read
Why BlackBerry Stock Surged Today

Shares of BlackBerry (NYSE: BB) popped 10.9% on Thursday, following the release of the artificial intelligence company's fiscal 2022 first-quarter financial results. BlackBerry's revenue declined by 32% year over year to $175 million, as the company continued to shift away from its traditional software licensing business. The better-than-expected performance was driven by gains in the company's AI-powered cybersecurity and Internet of Things (IoT) businesses.

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