Why BlackBerry Stock Is Skyrocketing Today

Shares of BlackBerry (NYSE: BB) are soaring on Wednesday, up 14.9% as of 1:08 p.m. ET. The jump comes as the S&P 500 and Nasdaq Composite were both little changed.

The early smartphone giant turned software company released its results for the fiscal first quarter of 2026 (ended May 31, 2025) yesterday, impressing investors with a strong outlook.

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BlackBerry delivers a strong quarter

BlackBerry reported better-than-expected Q1 2026 results on Tuesday. The company's first-quarter earnings per share (EPS) came in at $0.02, more than Wall Street analysts had expected. While top-line revenue declined 1.4% year over year, the $121.7 million in sales still topped estimates.

The especially bright spot came from increasing demand for the company's QNX automotive software. Sales for the product rose 4% to $57.5 million. With this and growth in its secure communications segment, the company raised its overall 2026 revenue forecast to between $508 million and $538 million.

Image source: Getty Images.

In a statement, CEO Brian John J. Giamatteo said of the quarter, "Both our QNX and Secure Communications divisions continue to execute effectively against their strategies, beating both top line and profitability expectations."

BlackBerry continues to turn things around

At its height, when its smartphones were still called "crackberries," the company's stock was trading north of $140, a far cry from today's share price of about $5. In the years since, the company has worked to reinvent itself, ditching device-making for software. It's been a long road, but things look to be paying off as the company shrinks its net loss and approaches profitability. Still, there's a decent amount of hype built in, and its stock is too expensive at the moment for my taste.

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Johnny Rice has no position in any of the stocks mentioned. The Motley Fool recommends BlackBerry. The Motley Fool has a disclosure policy.