(CercleFinance.com) – BlackBerry climbed 14% this Friday on Wall Street after reassuring about its prospects during the presentation of its quarterly results last night.
The title, which had fallen by 34% last year, thus brings its gains since the beginning of the year to almost 37%, compared to an increase of around 15% for the Nasdaq index.
The specialist in security and privacy technologies reported Thursday evening a turnover of 151 million dollars under its fourth fiscal year, which closed at the end of February.
This performance is in line with the forecasts that the group based in Waterloo (Ontario) had recently communicated to the market, but well below the initial estimates of analysts.
The Canaccord Genuity teams were aiming for a figure of around $166 million, for comparison.
A disappointment that the design office attributes to weak revenues from cybersecurity, where BlackBerry sales totaled only $88 million in the past quarter, there he anticipated 111 million.
Despite these disappointing performances, the technology group has reported better than expected objectives for its new 2023/2024 financial year, aiming in particular for revenue growth of around 20%.
Canaccord, which believes that the recent assignment of non-strategic patents should enable the group to strengthen its cash position and accelerate its growth in software and services, renewed its ‘hold’ recommendation with a target price of four dollars.
Copyright (c) 2023 CercleFinance.com. All rights reserved.