BlackBerry Ltd (NASDAQ:BBRY) Sells out 200,000 Passport Units within 10 Hours

At the end of the second quarter, BlackBerry Ltd (NASDAQ:BBRY) is still reporting a loss. Yet this morning, shorts got burned as the company delivered and maintained growth. The stock has gained 2.91% since yesterday’s close. The Bloomberg analysts had high hopes, and forecasted a 16 cent increase per share. However, BlackBerry Ltd (NASDAQ:BBRY) reported a revenue of 916 million in the second quarter, and outside analysts had predicted a revenue of 943 million. Yet according to CEO John Chen, they have sold 200,000 units and were sold out within 10 hours on amazon and 6 hours on their BlackBerry website. See live updates of earnings report.

Chen says:

“And with 91 million monthly active BBM users, up from 85 million in the prior quarter, BlackBerry has said it has plans to further monetize the messaging platform.”

Apple Inc.(NASDAQ:AAPL). and BlackBerry Ltd (NASDAQ:BBRY) have been wrestling for years to gain the top place of smartphones in the market.

Many users are reviewing the new phone, and Joanna Stern, a reviewer from the Wall Street Journal, has agreed that the PASSPORT is awkward and bulky, and does not have a sleek design like its’ competitors.

Although very appealing, there are a few issues that reviewers are having a hard time getting over. Such as the keyboard that has no shift key, and the space bar is not conveniently located for easy access.

Even with the negative comments from users of the new device by BlackBerry Ltd (NASDAQ:BBRY), known as the PASSPORT, investors are still standing by the company and John Chen, the new CEO of the company .

Other comments regarding the PASSPORT include statements like: it is weird, unusual and although innovative, will only be attractive to a select group of individuals.

Mr. Chen was specific in saying that the PASSPORT is intended to meet the needs of only one in every ten smartphone users. Their aim is to target an audience of bankers, lawyers and government officials, who are more concerned with security and efficiency of emailing and voice mail retrieval, than the ability to use the phone to post selfies on social media networks.

The new phone by BlackBerry Ltd (NASDAQ:BBRY), of course, has a physical keyboard, and a specialized messaging center that includes text messages, voicemails and emails. In addition, the battery life is said to last for 72 hours without a recharge.

The challenge that BlackBerry Ltd (NASDAQ:BBRY) has before them, is not necessarily to outperform their competition of Samsung and Apple Inc.(NASDAQ:AAPL), but to see if the unique features of the PASSPORT will appeal to their core audience.

The iPhone 6 by Apple Inc. (NASDAQ:AAPL) has been in great demand, with more than ten million being sold in the first 48 hours. The reported bending of the phone happened within a few short days, and was reported by unhappy and concerned customers.

Although the people that experienced a bend in their Apple iPhone 6 is very small, Chen was unable to contain himself, and had to poke a jab at his nemeses, and challenge them to attempt to bend their new handheld communication device, the PASSPORT.

Expect to see a new device set forth by BlackBerry Ltd (NASDAQ:BBRY) that will be known as the CLASSIC, which will be designed like some original designs that faithful customers have become accustomed to, and have relied on for many years.

BlackBerry Ltd (NASDAQ:BBRY) opened today at 9.69 and at 10am EST it stands at 10.23. The 52 week forecast ranges from 5.44 to 11.65 with a market cap of 5.29 B. Inst own is 53%.