Here is RIMM newsResearch In Motion Ltd. said Thursday its earnings slipped 4% in its second fiscal quarter as a legal settlement charge offset strong sales of the company's popular line of BlackBerry devices.
Shares of RIM fell 10% in after-hours trading Thursday following the results, after the company issued an outlook for the current period that was below Wall Street's expectations.
For the period ended Aug. 29, the Waterloo, Ontario-based company said it earned US$475.6 million, or 83 cents a share, compared with earnings of $495.5 million, or 86 cents a share, for the same period last year. Results for the recent period include a charge of $112.8 million related to the settlement of a patent dispute with Visto Corp. Excluding the charge, RIM said it would have earned $588.4 million, or $1.03 per share, for the recent period.
Revenue jumped 37% to $3.53 billion.
Analysts were expecting earnings of $1 per share on revenue of $3.62 billion, according to consensus estimates from Thomson Reuters.
The company said it shipped approximately 8.3 million smart-phone devices during the quarter, with 3.8 million new subscribers added. Analysts were expecting four million new subscribers with unit shipments between 8.5 million and 8.6 million, on average.
For the quarter ending in November, RIM said it expects revenue between $3.6 billion and $3.85 billion. Analysts were expecting $3.92 billion for the period. Earnings per share are expected to come in between $1 and $1.08, compared to the $1.05 expected by analysts.
5 comments:
Hi Saleem,
Wow did you see after hours on RIMM!
-10 to 73. Now what would be a good entry point? I was thinking 70 but with bad ER it could go much lower.
Best Regards
Hi Standard,
I think $70 is a great entry point...I will be in @ that price.
Saleem
Hi Saleem
the drop in price is awful RIMM is now $73 wow
it would seem to be v good entry point?
Good luck
Here is RIMM newsResearch In Motion Ltd. said Thursday its earnings slipped 4% in its second fiscal quarter as a legal settlement charge offset strong sales of the company's popular line of BlackBerry devices.
Shares of RIM fell 10% in after-hours trading Thursday following the results, after the company issued an outlook for the current period that was below Wall Street's expectations.
For the period ended Aug. 29, the Waterloo, Ontario-based company said it earned US$475.6 million, or 83 cents a share, compared with earnings of $495.5 million, or 86 cents a share, for the same period last year. Results for the recent period include a charge of $112.8 million related to the settlement of a patent dispute with Visto Corp. Excluding the charge, RIM said it would have earned $588.4 million, or $1.03 per share, for the recent period.
Revenue jumped 37% to $3.53 billion.
Analysts were expecting earnings of $1 per share on revenue of $3.62 billion, according to consensus estimates from Thomson Reuters.
The company said it shipped approximately 8.3 million smart-phone devices during the quarter, with 3.8 million new subscribers added. Analysts were expecting four million new subscribers with unit shipments between 8.5 million and 8.6 million, on average.
For the quarter ending in November, RIM said it expects revenue between $3.6 billion and $3.85 billion. Analysts were expecting $3.92 billion for the period. Earnings per share are expected to come in between $1 and $1.08, compared to the $1.05 expected by analysts.
Hi C,
RIMM has presented another great entry point..as herd is selling.
Saleem
Post a Comment