BlackBerry comeback continues on reports

June 15 [Sat], 2013, 21:24
BlackBerry 10 SalesShares ofrallied on Thursday on reports that the companys new smartphones are selling better than expected. Andy Perkins of Societe Generale said, , that his checks revealed that theandsold better in the fiscal Q2 than Wall Street expected. The analyst estimates that BlackBerry will pull in $3.7 billion in sales with a profit of $0.06 per share, up from earlier estimates of $2.7 billion. Perkins forecasts that the Z10 sold more than 4 million units, however Q10 sales arent expected to be as high. He explained that , the Q10s limited availability and recent release means sales were likely closer to a million units, which would give BlackBerry a grand total of more than 5 million BlackBerry 10 devices sold in the past quarter. The analyst upgraded BlackBerry from a Sell rating to a Buy with a target price of $17 per share, up from $13. BlackBerrys stock closed 6.49% higher at $14.44 per share.

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