Research In Motion reported a precipitous drop in quarterly profit on Thursday. The beleaguered cellphone maker was not helped by a lineup of antiquated BlackBerry dinophones and horrid sales of its “PlayBook” iPad wannabe.
The Waterloo, Ontario-based company’s adjusted net profit plummeted 47% to $419 million, or 80 cents per diluted share, on revenue of $4.2 billion.
RIM shipped just 10.6 million BlackBerry phones and only a meager 200,000 PlayBook tablets in the three months ending August 27, sharply below analysts’ average estimates. No word was given on the discrepancy, if any, between units shipped and those that were actually sold.
Tiernan Ray reports for Barron’s, “Co-CEO Jim Balsillie remarked that the company had ‘successfully launched a range of BlackBerry 7 smartphones around the world during the latter part of the second quarter and we are seeing strong sell-through and customer interest for these new products.'”
MacDailyNews Take: Delusional? Lying? Both? Or something(s) else entirely?
Ray reports, “Shipments of the company’s PlayBook tablet computer in the quarter totaled 200,000 units, it said, below some estimates I’d seen of half a million or so units.”
MacDailyNews Note: Shares of RIMM are currently down -$4.81, or -16.27%, to $24.75.
Read more in the full article here.
MacDailyNews Take: No surprises from DCW. Amateur hour is almost over.
[Thanks to MacDailyNews Reader “Jay in DC” for the heads up.]
