Cramer sends unmistakable verdict on BlackBerry before earnings

BlackBerry's (BB) rebound was a surprise for investors. Its shares are up about 109% year to date, and a new earnings report is just one week away. Most of that gain has come from a business that has almost nothing to do with the phones that once made the company famous.

On the Sept. 17 episode of CNBC's "Mad Money," a caller asked Jim Cramer about the stock's recent pullback, and the host told viewers to buy. BlackBerry is preparing to post its second-quarter fiscal 2027 results on Sept. 24. That means investors now have to weigh Cramer's buy call against the report. 

The numbers will tell investors whether the turnaround under CEO John Giamatteo remains on track, and whether the stock's recent pullback resulted from wider market pressure.

Cramer's lightning round buy call on BlackBerry stock

During the lightning round, Cramer told the caller, "Buy, buy, buy. We've had the company on. I am surprised that it came back down, but there's been a lot of selling in some very good stocks," according to CNBC. 

Cramer has been positive about BlackBerry for months. On the June 10 lightning round, he told a different caller that "BlackBerry is good," and added that his team had already been researching the technology and had planned a dedicated segment, CNBC reported.

In late July, he hosted Giamatteo on "Mad Money" to walk through the company's shift into automotive and robotics software.

Cramer, who has hosted the show since 2005, rarely revisits the same mid-cap name three times in a single year. His current stance places him on the bullish side of Wall Street.

How BlackBerry actually makes money in 2026

BlackBerry is no longer the smartphone maker most Americans remember. Today, the company runs two software businesses. QNX, its embedded operating system, sits inside more than 275 million vehicles, according to BlackBerry. You can also find it inside robots, medical devices, and industrial machines. 

Secure Communications sells encrypted messaging and critical event management tools to governments. Its AtHoc emergency alerting platform is used by roughly 80% of U.S. federal agencies.

Related: Jim Cramer reveals 6 AI stocks to watch in 2026

The company sold off its Cylance cybersecurity unit last year to sharpen that focus, according to its SEC filing, and the decision is starting to show up in the numbers.

In its first-quarter fiscal 2027 results reported on June 25, BlackBerry posted revenue of $152.9 million, ahead of the $136 million Wall Street expected. It also delivered its fifth straight quarter of GAAP profit.