CA - BlackBerry Q4 FY2024 Earnings: Still A Sell Despite Positive Elements

2024-04-04 03:49:37 ET

Summary

• BlackBerry's guidance is better than initially perceived, but the stock is still a sell.
• The company's IoT segment shows promise, but challenges in software-defined vehicle programs and budget constraints hinder growth.
• BlackBerry's valuation at 53x forward EBITDA is considered too high.

Investment Thesis

BlackBerry ( BB ) delivered a very mixed set of fiscal Q4 2024 results . Simply put, its guidance is better than what seems on the surface. This is contrary to what many investors have opined....

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