AOL boss Tim Armstrong still loves his BlackBerry, and he told CNBC on Wednesday that other CEOs apparently do, too.

On the sidelines of the Allen & Company media and technology conference in Sun Valley, Idaho, Armstrong explained on "Squawk Box" that he uses three phones: "The Samsung Note I have, and I have an [Apple] iPhone also, they are excellent for me for Web viewing, entertainment, video, those type of things. And I use those phones everyday. But BlackBerry for me is a utility."

"If you look around Sun Valley," he said, "you see people who have to do a tremendous amount of work … on BlackBerrys."

BlackBerry has been on the ropes for years, as the one-time smartphone leader watched its market share dwindle. John Chen, former CEO of software developer Sybase, took over in November, after the short reign of Thorsten Heins who struggled to turn things around.

Since June, the stock has gained about 45 percent. (But it's worth noting that the current $11-per-share price is a far cry from its all-time high of $130 in June of 2008.) Last month, BlackBerry reported a narrower-than-expected loss for its fiscal first quarter, with revenue in line with estimates. At the time, Chen told CNBC he expects the company to return to profitability next year.

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Against the backdrop, Armstrong—like many other BlackBerry lovers—is hoping for the best. "It's a great utility device. I love my Samsung Note, love my iPhone. But the stuff about BlackBerry, their future will hopefully be driven by utility. I don't know what their plans are, but I'd be happy if they did well."