Live Blog Recap: RIM Earnings
The company posted adjusted earnings of $1.33 per share on sales of $4.9 billion, versus analyst expectations for a profit of $1.32 per share on revenue of $5.1 billion.
RIM, under siege in a hotly-contested mobile market, also lowered its outlook for the full year, predicting between $4.25 and $6 per share, down from $7.50The pressure sits on RIM to prove that its sagging BlackBerry sales can at least keep up the fight until reinforcements -- new products -- arrive in what's been a losing battle against Apple's (AAPL) iPhone and Google's (GOOG) Android devices. The one bright side: RIM shipped 500,000 of its PlayBook tablet devices, above analysts estimates of about 360,000. Consequently, investors are left with few slivers of hope. Much of the remaining optimism is riding on the QNX operating system, software that's being designed for the next generation of supersmart RIM devices. Unfortunately for impatient investors, the QNX cavalry won't arrive until sometime next year, well after the onslaught. Shares of RIM tumbled in after-hours trading, down nearly 15% to $30.10 at last check. --Blog written by Scott Moritz and James Rogers in New York.
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