Toronto, July 5, 2026, 14:06 EDT
- BlackBerry’s U.S. shares ended Thursday at $11.51, falling 10.15%. U.S. markets were closed Friday for the Independence Day holiday.
- The Toronto stock ended Friday at C$16.37, up 0.31%. The NYSE reopens Monday and will be the first U.S. session since the pullback.
- Data point: BlackBerry has a $6.74 billion U.S. market cap, trading at around 11.1x the midpoint of its fiscal 2027 revenue forecast.
- QNX remains the big bull point, but short interest, trading volumes and valuation are just as important now as the earnings beat.
BlackBerry Limited (NYSE:BB; TSE:BB) goes into this week with a changed story from last month. Shares have already moved up. U.S. markets had a holiday-shortened session. Now the market is watching to see if investors will value BlackBerry like a software name while revenue stays modest.
U.S. markets stayed closed Friday for the Independence Day holiday. The Toronto Stock Exchange was shut Wednesday for Canada Day but traded as usual Friday. NYSE trading hours are set to return Monday unless there is a separate halt. The TMX calendar lists July 3 as a U.S. holiday for special settlement, not a closure for Canadian markets.
The split is in focus because BlackBerry’s U.S. shares closed Thursday at $11.51, down $1.30 or 10.15%, then slipped again after hours to $11.36. The session swung from $11.20 to $13.03. The 52-week range is $3.12 to $13.59. MarketWatch In Toronto, BlackBerry ended Friday at C$16.37, up 0.31%, with volume at 2.31 million, Google Finance showed.
| Measure | Latest cited data | Investor read |
|---|---|---|
| NYSE close | $11.51, July 2 | U.S. investors haven’t traded normal hours since the stock dropped 10.15% |
| Toronto close | C$16.37, July 3 | Stock bounced a bit when U.S. markets were closed |
| 52-week range, NYSE | $3.12-$13.59 | Still trading well above last year’s bottom |
| Market value, NYSE quote page | $6.74 bln | Valuation looks like a growth software firm now |
| Short interest | 39.15 mln shares, 6.70% of float | Squeeze risk is still out there, but could go either way |
The stock still gained 0.96% for the shortened U.S. week, even after dropping Thursday. MarketWatch data show closes at $11.40 on June 26, $12.48 on June 29, $12.65 on June 30, and $12.81 on July 1. About 50.95 million shares traded on July 2, according to the finance quote.
| Date | NYSE close | Daily move | Volume |
|---|---|---|---|
| June 26 | $11.40 | unch | 57.8 mln |
| June 29 | $12.48 | up 9.5% | 47.7 mln |
| June 30 | $12.65 | rose 1.4% | 35.8 mln |
| July 1 | $12.81 | added 1.3% | 40.5 mln |
| July 2 | $11.51 | fell 10.1% | 51.0 mln |
The sales multiple hasn’t gotten much attention. BlackBerry had a $6.74 billion market value after Thursday’s U.S. close, according to MarketWatch. The company expects fiscal 2027 revenue between $594 million and $621 million. That means the stock is trading at about 11.1 times the $607.5 million midpoint before any net cash is factored in.
BlackBerry delivered a first-quarter beat, but now the stock needs to show QNX can keep its growth and Secure Communications holds steady. For the quarter, revenue came in at $152.9 million, up 26%. Adjusted EBITDA was $36.3 million, with GAAP net income at $8.5 million. QNX pulled in $72.3 million, up 26%. Secure Communications revenue was $73.6 million, up 24%.
Chief Executive John Giamatteo told Reuters that QNX customers are “leaning into next-generation software defined vehicles.” Reuters also said that QNX had close to $1 billion in future royalty backlog. BlackBerry’s fiscal 2027 QNX revenue guide is $295 million to $312 million. So the backlog is about 3.3 times the midpoint of the QNX revenue target for this year, but royalties can take years to come in. Reuters
| Business line | Q1 fiscal 2027 revenue | Year-on-year change | FY2027 guide |
|---|---|---|---|
| QNX | $72.3 mln | up 26% | $295 mln-$312 mln |
| Secure Communications | $73.6 mln | up 24% | $270 mln-$280 mln |
| Licensing | $7.0 mln | n/a | about $29 mln |
| Total BlackBerry | $152.9 mln | up 26% | $594 mln-$621 mln |
Giamatteo said in the release BlackBerry “exceeded expectations for revenue, profitability, and cash generation.” BlackBerry reported operating cash flow of $4.6 million, its first positive fiscal Q1 operating cash flow in nine years, not counting the patent sale from fiscal 2024. Newswire
Chief Financial Officer Tim Foote focused on the cleaner valuation angle during the earnings call. “The quality of that growth” was key, he said. Foote added that higher-margin QNX royalties should push more revenue into margin expansion, profit and cash. MarketBeat
Canada’s main stock index was up on the week. The S&P/TSX composite closed Friday at 35,274.84, rising 0.9% on the day and up 0.8% for the week, with miners showing gains. Reuters In the U.S., the Nasdaq Composite slipped 0.80% Thursday. BlackBerry slid more than 10%. It wasn’t just an index story. Peer stocks tracked by MarketWatch showed Apple Inc. NASDAQ:AAPL up 4.84%, Motorola Solutions Inc. NYSE:MSI up 0.89%, Nokia Corp. ADR NYSE:NOK down 6.51%, while BlackBerry dropped 10.15%.
BlackBerry says on its investor page it plans to report fiscal Q2 on Sept. 24, 2026. Until that date, shares could move on things like volume, short interest, or news that QNX orders are showing up as revenue sooner than forecast.
Related articles: NASDAQ:AAPL
