DailyTech - RIM Exceeds Analyst Expectations for Quarter

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Gadgets RIM Exceeds Analyst Expectations for Quarter
Shane McGlaun (Blog) - June 19, 2009 9:00 AM

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5 comment(s) - last by fsam.. on Jun 21 at 2:46 AM

RIM says $99 iPhone and Pre won't impact Blackberry sales

The smartphone world is packed with handsets today from the Android devices starting to hit the market to the new Palm Pre and the iPhone 3G S that will launch today. Among the most popular smartphones on the market are the line of Blackberry devices from RIM.

RIM reported its quarterly earnings numbers yesterday and surpassed analyst expectations for the quarter. The smartphone maker sold 7.8 million devices over the quarter reports CNET News. Revenue of the quarter was $3.42 billion, only slightly below the $3.43 billion estimate that analysts were expecting.

The revenues for the quarter were up 52% from the same quarter of 2008. Net income was $564.4 million for the quarter working out to 98 cents per share. Analysts expected RIM to post net income of 94 cents per share.

Over the quarter, RIM reports that it added 3.8 million new Blackberry subscribers, 80% of which were consumers. CNET News reports that RIM is expecting the current quarter to produce revenues in the $3.45 billion to $3.7 billion range with earnings per share of 97 cents to $1.03. Analyst expectations for the quarter are 97 cents per share.

RIM co-CEO Jim Balsillie doesn't expect the aggressive $99 iPhone 3G price or the Palm Pre to make a significant impact on Blackberry sales. He notes that special pricing from Blackberry partners will continue to generate sales. RIM also has plans to launch new devices over the quarter including the Tour and possibly the Storm 2 that was leaked onto the Internet recently.

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Employment?

By Fnoob on 6/19/2009 9:43:00 AM , Rating: 5

Where to apply for a RIM job? ;)

RE: Employment?

By AlvinCool on 6/19/2009 9:57:01 AM , Rating: 3

Downtown in the seedy district?

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RE: Employment?

By randomposter on 6/19/2009 1:37:41 PM , Rating: 5

True story: I once had a headhunter contact me about an opportunity at Research in Motion. While pursuing the idea and communicating back and forth, at one point he sent me an email with the subject "Rim Job"

For some reason it was kinda hard to take him seriously after that.

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