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BlackBerry Playbook
RIM stock plummets in after hours trading after it reports fiscal Q2 earnings

We reported earlier today that dark clouds were looming over Research In Motion. This afternoon, RIM announced its fiscal Q2 earnings [PDF] and things aren't looking so pretty. The company reported net income of $695 million for the quarter compared to $934 million in fiscal Q1. Its fiscal Q2 earnings were also down compared to the $769 million in made in the same quarter last year.

RIM stock is taking a beating in after hours trading, currently down 15.11 percent to $29.93.

When it comes to hardware sales, RIM announced that it shipped over 13 million BlackBerry smartphones and roughly 500,000 Playbook tablets. RIM wouldn't specify how many Playbooks it has actually sold at this point. 

For his part, RIM Co-CEO Jim Balsille had this to say about this company's performance during fiscal Q2: 

Fiscal 2012 has gotten off to a challenging start. The slowdown we saw in the first quarter is continuing into Q2, and delays in new product introductions into the very late part of August is leading to a lower than expected outlook in the second quarter. RIM’s business is profitable and remains solid overall with growing market share in numerous markets around the world and a strong balance sheet with almost $3 billion in cash. We believe that with the new products scheduled for launch in the next few months and realigning our cost structure, RIM will see strong profit growth in the latter part of fiscal 2012. 

As a result of its latest misfortunes, RIM also announced that it will "streamline operations", which means that a "headcount reduction" will take place. RIM didn't go into specifics on how many workers will lose their jobs, but the company has a current workforce of about 17,500 employees.



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RE: Marketing speak
By melgross on 6/17/2011 8:36:31 AM , Rating: 3
That is one of the most asinine, filthy posts I've read in a long time, and contains nothing useful.

You don't seem to understand just what "shipped" means. It means product that is in distributers warehouses, on retailers shelves, and in trains, trucks and ships bound for those warehouses. It has nothing to do with "sold", as in something that a consumer or business bought and paid for. When these clowns were asked how many phones and tablets sold, they looked at each other and said that they didn't have the numbers. BS they didn't. They didn't want to give them out, because they would be so low. Never trust "shipped" numbers. They mean nothing other than the channel is being stuffed. When they announce how many they sold, then you can either gloat, or hide under a rock.

And if you want to curse me out, fine, have your tantrum if it makes you feel better


RE: Marketing speak
By eek2121 on 6/17/2011 10:10:00 AM , Rating: 2
Do you not understand how the supply chain works? Shipped IS sold from RIM's standpoint. They already made the money their standpoint. It doesn't matter if the Playbooks are sitting in warehouses for a year. Another thing: Considering that they've shipped 500,000 playbooks, people MUST be buying them otherwise they wouldn't be continuing to ship them.


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