BlackBerry's stock surged 7.19% during the trading session, extending its recent positive momentum.
The rally is driven by the company's better-than-expected first-quarter fiscal 2027 earnings report, which showed a 26% year-over-year revenue increase to $152.9 million, exceeding consensus estimates. Adjusted earnings per share came in at $0.04, beating expectations of $0.03. The company's core QNX division delivered strong performance with revenue growth of nearly 26%, and BlackBerry raised its full-year revenue guidance while achieving its first positive operating cash flow in a first quarter in nine years.
Multiple financial institutions have responded positively to the results, with RBC Capital Markets raising its price target from $4.50 to $9.00 and Raymond James lifting its target from $4.75 to $9.50, citing robust QNX development seat license sales and improved financial outlook.