Great results boost shares in Blackberry maker

All those bankers losing their jobs has not made even a dent in sales of the ubiquitous Blackberry smart phone.

The shares soared in April after first quarter profits and sales forecasts exceeded analysts’ expectations.

Investors were also pleasantly surprised by the trend in profit margins. These had been under pressure for the last few quarters hurt by discounts. However this trend has stabilised helped by the group finding new ways to cut hardware costs.

In the light of these reassuring figures it is apparent that the share price dropped far too low when the price fell below $40 taking the prospective PE ratio down to around 10 times, ridiculously low for such a well-placed and fast growing business.

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