“Research In Motion Ltd. reported profit and sales that missed analysts’ estimates after delaying the release of the BlackBerry Bold phone in the U.S., its biggest market. The shares fell 8.7 percent in late trading,” Vivek Shankar reports for Bloomberg. (RIM reported net income of $495.5 million, or 86 cents a share. Analysts predicted a profit of 87 cents on average, according to a Bloomberg survey. Revenue of $2.58 billion, compared with the average projection of $2.59 billion from analysts.)
“The Bold, a faster version of the BlackBerry e-mail phone, is Research In Motion’s response to Apple Inc.’s updated iPhone,” Shankar reports.
MacDailyNews Take: That was some response: “It’s here. The new BlackBerry Bold. Twice the price. Half the device.“
Shankar continues, “Research In Motion, based in Waterloo, Ontario, dropped to $89 in late trading after rising 82 cents to $97.53 at 4 p.m. New York time in Nasdaq Stock Market trading. The shares have dropped 14 percent this year.”
Full article here.
[Thanks to MacDailyNews Reader “Jarvis” for the heads up.]