“RIM reported quarterly earnings of $1.27 a share, topping forecasts, but the good news ends there,” Mark Gongloff reports for The Wall Street Journal. “Revenue missed expectations, and fourth-quarter guidance was grim, and the stock is tumbling after hours.”
“RIM shares are down more than 6% in after-hours trade,” Gongloff reports. “Including this move, the stock is down nearly 80% from its high in February.”
Gongloff reports, “The company said it expected fiscal fourth-quarter earnings of between 80 cents and 95 cents a share, which is well below even the $1.15 unadjusted figure analysts expected, according to FactSet… It also said it expected to ship between 11 million and 12 million BlackBerry units — again, disappointing. Expectations were closer to 13 million.”
Read more in the full article here.
MacDailyNews Take: DCW, but just barely.
Should be DCS – Dead Company Staggering (like the Execs)
All this could’ve been predicted the minute people played with an iPhone and decided it was OK to ditch the physical keyboard.
And any simple BACN analysis paints RIM as a dead man walking shortly thereafter.
RIM needs to chew its way out of its restraints so it is free to rise once again.
Unfortunately for RIM, those *mental* restraints are a lot harder for them to get their teeth into than the physical kind.
RIM is quickly becoming the Rodney Dangerfield of smart phones.
Hey! That’s. Insulting to the late (and great) Rodney Dangerfield! He gets no respect I tell ya!
Lucky for those corporate hold outs. Those orders are keeping them afloat. No matter how you cut it, there will be always CIO/IT defuses that refuses to change from Windows or RIM.
Waited far to long to be able to sell the company.
Now it is heading down to intellectual property value.
What a difference two years makes! In August 2009, Fortune magazine named RIM as the fastest growing company in the world.
http://www.zdnet.com/blog/btl/blackberry-maker-rim-named-worlds-fastest-growing-company/22871
Some cancers grow very fast, too.
It all goes to show that fast growth is a lot less important than smart growth. RIM’s growth was primarily in areas that produced little or no revenue. Contrast that with Apple, who has reaped the lion’s share of mobile sector profits with the growth of the iPhone and iPad.
The game is all about being focused.
When you spend most of your time finding ways to spend your millions (hockey club), you are not focused.
Innovate or die … always!
A strong house cleaning of the exec staff is probably RIM’s next desperate move.
I wouldn’t be surprised to hear the announcement of the hiring of an “investment bank” first.
The board must reveal that to comply with SEC requirements.
Canadian company, Canadian rules.
Although it may involve the Canadian equivalent of the SEC.
Too little, Too Late! Company will be sold off for scraps by Fall 2012.
QUESTION:
Will R.I.M. survive 2012 intact?
My answer: No.
The effort to bring out son-of-PlayBook by the end of 2012 will sap their assets to the point of vulnerability, at which point they will break up. I predict. 😎
Question:
Where is actual competition with the iPad?
Answer:
Nowhere in sight, not yet.
… And please don’t make me pee my pants laughing by saying it will be the Windows 8 tablet in 2012. I may have to charge you laundry fees.
Disagree .. in part
In this business, if you do not know where you are going to be in the next 5 years, you are history.
You can make zillions on your current products, fine, but what’s next.
RIM is still making money … but slow death is inevitable if nothing substantial changes.
Problem for RIM – The 5 year PC model doesn’t work here as phones average a 2 year turnover rate. The end can come very fast. Just ask Palm or Nokia.
Tell me if and when they turn it around cause that will be news!
Time for Carl Ichan to euthanize this flea bitten mangy mongrel. Buy ’em and break ’em up.
RIMM also revealed that they would be delaying the release of Blackberry OS 10 until late 2012. Since pretty much all of their new development hinges on this, and we can assume that iOS and Android will not be standing still, I think we can safely stick a fork in RIM. Look for the co-CEO’s to be sacked by February.
Who will be first to step forward and make the initial bid … to gain RIM’s Certicom “patents”.
“patents” … quotation marks to denote a certain apophasis.
It’s like watching the Titanic crash into an iceberg in slow motion. Just seen this nugget on the Verge “RIM: no BlackBerry 10 phones until late 2012”
They’re toast.
RIMM’s earnings of $1.27 a share – is that US or Canadian?
For most of my memory, the Canadian dollar was worth a lot less than the US dollar, but these days it’s worth more.
Discuss.