Shares of BlackBerry Ltd. rocketed 13% on heavy volume in morning trade Thursday, putting them on track for a 3-month closing high, after better-than-expected fiscal second-quarter results. Volume topped 14 million shares within 30 minutes after the open, already about triple the full-day average, and enough to make it the stock the most actively traded on the Nasdaq. The “mobile-native security and software and services company”–don’t call it a smartphone company–said handheld device sales tumbled 85% from a year go to just $16 million, or only 6.7% of total revenue of $238 million. For the quarter ended March 3, 2007, when the company was named Research in Motion Ltd., and before the launch of Apple Inc.’s first iPhone, handheld revenue accounted for 73% of total revenue of $930.4 million, or about $679.2 million. BlackBerry’s stock has climbed 26% over the past 12 months, while the S&P 500 has gained 15%.
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