BlackBerry (TSX:BB) Stock: 2021 Could Be Much Better : vimar

BlackBerry (TSX:BB) Stock: 2021 Could Be Much Better


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Last year belonged to the technology sector. The pandemic-infused lockdown had hastened the digitization process, thus driving the demand for products and services provided by the tech companies. However, the performance of
BlackBerry (TSX:BB)(NYSE:BB) was subdued compared to its peers, as the weakness in the automotive sector weighed on its financials and stock price. It returned only 1% last year, while some of the tech companies doubled their stock prices.
BlackBerry’s recent performance and its growth prospects
In its third quarter, which ended on November 30, BlackBerry reported an adjusted EPS of $0.02 per share, outperforming analysts’ expectation of a loss of $0.01 per share. However, its revenue of US$218 million fell short of analysts’ expectations of $219.7 million. The weak performance from its QNX segment, which offers a portfolio of automotive software solutions, negatively impacted its top line.

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