Could BlackBerry's Q1 Earnings Beat Further Fuel The Stonk Rally?
Canada-based security software company BlackBerry Limited (NYSE: BB), a Reddit-favorite stock, reported first-quarter earnings that matched analysts expectations while revenues beat estimates. What Happened: BlackBerrys first-quarter net loss narrowed to $62 million, or $0.11 per share, from $315 million or $0.56 per share in the year-ago quarter. Adjusted loss was $0.05 per share, while revenue fell 17% from the year-ago period to $174 million. Analysts, on average, had expected the company to report an adjusted loss of $0.05 per share on sales of $171.25 million. See Also: Why This BlackBerry Stock Analyst Sees 'Show Me' Story Ahead Of Q1 Earnings  Why It Matters: BlackBerry is among the so-called stonks  stocks favored by the retail crowd. The stock continues to see high interest on Reddits r/WallStreetBets forum and its year-to-date gains stand at 91.25%. Blackberrys earnings results appeared to please the companys supporters, based on the posts on the WSB forum. A user with the handle u/TexasThrowDown on the WSB forum noted that BlackBerry isn't a squeeze play, but a long-term value play.  BBTO100!!! To the moon and #MARS!, read another post. Price Action: BlackBerry shares closed 3.5% lower in Thursdays regular trading session at $12.68. Read Next: If You Invested $1,000 In BlackBerry Stock One Year Ago, Here's How Much You'd Have Now