'Turnaround Complete' - A Single Statement Boosts Former Smartphone Stocks by 8%

On April 9, BlackBerry Ltd. (NYSE: BB) shares surged 8.5%, closing at $3.83. The company’s market capitalization swelled to roughly $2.26 billion—an increase of about $210 million in a single day.

The rally followed BlackBerry’s release of its fourth-quarter and full-year fiscal 2026 results, which showed revenue growth and its eighth consecutive quarter of adjusted profitability. The firm also issued first-quarter revenue guidance that exceeded market expectations, effectively signaling that its turnaround is complete.

A simultaneous recovery in its automotive QNX embedded-software division and cybersecurity business drove fourth-quarter revenue up approximately 10% year-over-year, further bolstering investor confidence.

Once famed for its BlackBerry smartphones, the Canadian company has fully reinvented itself as a B2B software provider focused on security solutions and automotive operating systems. Headquartered in Waterloo, Canada, BlackBerry now delivers security software to governments and enterprises worldwide and is leveraging its QNX platform to expand its share of the autonomous-driving and connected-car markets.