Research in Motion Ltd. (NASDAQ: RIMM) posted disappointing earnings today and shares are paying for it. The smartphone giant posted $0.84 EPS on $2.24 Billion in revenues. The First Call estimates were $0.85 EPS on $2.27 Billion in revenues.
During the quarter, RIM shipped approximately 5.4 million devices. Approximately 2.3 million net new BlackBerry® subscriber accounts were added in the quarter. At the end of the quarter, the total BlackBerry subscriber account base was over 16 million.
As far as guidance goes, this is a disappointment as well. Next quarter it sees $0.84 to $0.89 EPS on a range of revenues of $2.55 to $2.65 Billion. First Call has estimates at quarter’s estimates are $0.90 EPS on $2.44 Billion in revenues. Net subscriber account additions in the second quarter are expected to be approximately 2.6 million.
Shares closed up 1.3% at $142.34 in regular trading, but shares are taking a breather. The stock in after-hours activity is down considerably around $130.00 in the initial reaction. After a major rise that the stock has seen, this sell-off is more than understandable.
Apple Inc. (NASDAQ: AAPL) is also down marginally after the RIMM report, but only by about 1.5%.
Jon C. Ogg
June 25, 2008
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.