Ups And Downs: The Best And Worst Tech Stocks In The First Half Of 2017
Submitted by Rick Whiting on
BlackBerry
CEO: John Chen
Dec. 30, 2016: $6.89
June 30, 2017: $9.99
Change: +44.99%
For its fiscal 2017 ended Feb. 28, BlackBerry reported revenue of $1.31 billion, down more than 39 percent from $2.16 billion in fiscal 2016. The company reported a loss of $1.21 billion for fiscal 2017 compared with a loss of $208 million in fiscal 2016.
The company returned to profitability in its first fiscal quarter (ended May 31) – although a $940 million arbitration award from Qualcomm in a dispute over royalties accounted for the gain. The company reported net income of $671 million compared with a $670 million loss in the same quarter one year earlier.
Revenue for the quarter was $235 million, down 41 percent from $400 million one year before. Those results, including an unexpected decline in software sales, missed financial analysts' expectations, causing the company's stock price to plunge June 23.