RIM announced it’s quarterly results Thursday, managing a profit of $769M, but missing all of it’s targets. . Revenue, was up 24% Y0Y at $4.24 billion or $1.38 per share diluted, fell short of the $4.32b analysts were expecting. The 4.9 million new subscribers RIM picked up also wasn’t good enough for the Street, which was looking to see 5 million additions. Handset sales also failed to meet expectations even with a record 11.2 million sold. However, the total shipments of blackberries has now surpassed 100M units, a milestone for the company. The company added around 4.9 million net new BlackBerry subscriber accounts in the quarter, bringing its total BlackBerry subscriber account base to around 46 million. RIM is very optimistic about the current quarter and is expecting it that revenue come in at $4.4 to $4.6b while adding up to 5.2 million subscribers. Earnings per share targeted for $1.33 to $1.40.
Source: RIM
Mickey Papillon
Joey Koppes
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