RIM Earnings: Live Blog
TheStreet live-blogged the Research In Motion (RIMM) fiscal fourth-quarter earnings release and analyst conference call after the bell Thursday.
But as business in the U.S. weakens, sales abroad have grown. RIM's fourth-quarter report reflected these trends: The BlackBerry maker beat analyst estimates for adjusted earnings, posting $1.78 a share vs. the expected $1.76. As for quarterly revenue, RIM posted in-line numbers at $5.56 billion, up from $4.08 billion a year ago.During the company's conference call with analysts, RIM execs warned of lower revenue for the quarter, with co-CEO Jim Balsillie emphasizing a "time of cutting over" as the firm gets set to release its new, enterprise-minded tablet, the Playbook. "It's a time of enormous investment and transition," said Balsillie. "[It arrives] in Q2 -- if life was perfect, I'd pull it in [by] three months, but we can't." RIM announced that the PlayBook will run on the firm's own QNX software, and will feature support for Android apps. RIM's stock plunged in after-hours trading Thursday finishing down 10.5% at $57.33 on volume of nearly 10.1 million. -- Blog written by Scott Moritz in New York and Chris Stuart in Boston.
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