Research In Motion's Earnings: Blog Recap
Co-chiefs Jim Balsillie and Mike Lazaridis were already taking heat for staying the course too long with simple email phones, leaving RIM now dangerously late to the app-phone, touchscreen-controlled, mobile computing game.
This latest misstep seemed to confirm market fears about the company's ability to effectively compete against Apple's (AAPL) iPhone and other smartphones powered by Google's (GOOG) Android operating system.The stock was last quoted at $23.89, down 19.1%, on volume of 12.6 million, according to Nasdaq.com. The shares were already down more than 50% so far in 2011 ahead of the report. After the closing bell, the Canadian tech giant reported an adjusted profit of $419 million, or 80 cents a share, on revenue of $4.17 billion for the three months ended in August, well below the average analysts' view for earnings of 87 cents a share on revenue of $4.47 billion. The revenue total was a 10% sequential decline as shipments of both its Blackberry devices and Playbook tablets came in short of expectations. --Written by Scott Mortiz in New York.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV