Why BlackBerry Stock Plunged Today

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BlackBerry‘s (NYSE: BB) stock price sank 9.7% Wednesday, following the release of the software company’s fourth-quarter earnings results. 

BlackBerry’s revenue fell 25% year over year to $210 million. That was well below the $245 million Wall Street had expected. 

The software maker said talks to sell some of its mobile devices, messaging, and wireless networking patents to a “North American entity” contributed to the revenue shortfall. The negotiations led BlackBerry to delay sales activities that could have resulted in higher licensing revenue during the quarter.

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