Why Investors Might Want To Be Wary Of Betting Against BlackBerry
CNN Money Digital Correspondent Paul La Monica discussed BlackBerry Ltd (NASDAQ: BBRY) following its earnings release.
La Monica pointed out that the company actually had earnings with a "legitimate GAAP profit." Sales, however, "were much worse than expected and their lowest level in almost nine years."
The low sales were to be expected, La Monica felt, as CEO John Chen "is trying to push [BlackBerry] away from hardware and more into software and services," therefore, some of the decline in sales could be intentional as the market continued to purchase iOS and Android devices.
Speaking of the company's transition away from hardware, La Monica asked, "Can Chen really pull this off?"
Another major issue for La Monica remained as to whether or not the company would be sold.
Shares of BlackBerry recently traded at $9.55, up 2.63 percent.
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