Blackberry $BB produced a decent earnings report, but price still plummeted. Here's a quick recap of the earnings report from Zacks.com:BlackBerry's (BB) Q1 Earnings Match Estimates, Revenues BeatBlackBerry Limited (BB - Free Report) reported healthy first-quarter fiscal 2020 (ended May 31, 2019) financial results. This was primarily driven by growth in software and services business, and lower total operating expenses, which helped narrow GAAP net loss on a year-over-year basis. Net Loss On a GAAP basis, net loss for the quarter was $35 million or loss of 9 cents per share compared with net loss of $60 million or loss of 11 cents per share in the year-ago quarter. The year-over-year improvement was primarily driven by top-line growth and lower operating expenses. However, non-GAAP net income came in at $5 million or 1 cent per share. The bottom line matched the Zacks Consensus Estimate.Revenues GAAP revenues increased 16% year over year to $247 million. Software and services revenues were $240 million, up 27%. Geographically, North America generated revenues of $160 million compared with $139 million in the year-ago quarter. Revenues from Europe, Middle East and Africa were $61 million, up 17.3% year over year, while revenues from other regions totaled $26 million, up 18.2%. Non-GAAP revenues were $267 million compared with $217 million in the year-earlier quarter. The top line surpassed the consensus estimate of $249 million.A couple of weeks ago, we saw that BB's price action was hanging onto a bearish structure. Despite decent earnings report in the past 3 quarters, price action has not gotten out of a bearish trend since the start of 2018.Blackberry (BB) Still Has Bearish Structure Ahead of This Month's Earnings ReportBB Daily Chart(click to enlarge)Bears in Charge:- The daily chart is very telling of the continuation of the prevailing bearish trend - lower highs and lower lows. - with the bearish momentum intact in the weekly chart (RSI holding under 60), I am not considering BB until price drops to at least the $5.50-$6.00 area. - If price can't hold above $5.00, we have a real problem. But perhaps, there is a good enough chance for BB to get some short-term bounce from this area to trade it. However, I would not invest my money in BB until I see a long period of accumulation followed by a bullish breakout.- In other words, maybe we can trade a bounce within a period of consolidation, but it might not be worth holding BB while there are other names with better investment potential.BB Weekly Chart(click to enlarge)