CNBC’s Goldman: BlackBerry-maker RIM’s bad news could bode well for Apple

Apple Online Store “Whoa! I had to do a double take when I was reporting Research in Motion’s second quarter earnings on the air moments ago because I couldn’t believe they were this weak,” Jim Goldman reports for CNBC. “In this case, looks were not deceiving.”

“RIM did in fact beat on the bottom line, reporting $1.03 against the $1 Wall Street was looking for. And the company’s 44.1 percent gross margin was also better than expected and encouraging. But that good news came on lighter than expected revenue with RIM reporting $3.53 billion versus the $3.6 billion consensus. And the numbers go downhill from there: The 3.8 million subscribers comes against the 4.1 million expected; the 8.3 million Blackberrys shipped contrasts sharply with the 8.7 million analysts anticipated,” Goldman reports.

“And looking at Third Quarter guidance, the news gets even more dismal, at least as far as RIM’s historical performance is concerned: RIM is offering an EPS range of $1 to $1.08. Analysts were expecting $1.05. The revenue range from the company is now $3.6 billion to $3.85 billion, which falls well below the consensus estimate of $3.9 billion,” Goldman reports. “RIM also expects 4 million to 4.3 million new subscribers, which is again lower than the 4.3 million Wall Street was looking for.”

Goldman writes, “The snap judgment would be to take the entire smartphone sector lower based on RIM’s news, but this actually might be veiled, good news for the likes of Apple.”

Much more in the full article here.

12 Comments

  1. “…The 3.8 million subscribers comes against the 4.1 million expected; the 8.3 million Blackberrys shipped…”

    these numbers tell you what an an ongoing “Buy one get one Free” promotion gets a company trying to artificially prop up sales numbers.

  2. Oh what a crock of shit. All of this is based on what a bunch of dipshit analysts were predicting or expecting:

    “4.1 million expected” “analysts anticipated” “Analysts were expecting” “well below the consensus estimate” “lower than the 4.3 million Wall Street was looking for.”

    What a system.

  3. The Globe and Mail? That canuck publication is comparing the one-trick pony RIM to the stable of clydesdales that is Apple.

    The problem for RIM, if their one pony is beginning to waver, the entire company will dump.

  4. I agree that RIM with their Blackberry product is ahead of Apple and their iPhone product in that the name Blackberry is still synonymous with smartphones to the general public.

    Yes the iPhone is making in roads into RIM’s marketshare, however the iPhone still has a way to go before trouncing Blackberry out of peoples, read mainly business users, minds. Time is a key factor here and as long as Apple keeps finding new features to improve the iPhone feature set so much the better.

    Granted the App Store is second to none, which is a good start, however needs more big name game developers to release titles into the App Store, EA is only but one.

    I don’t have an iPhone or a Blackberry, not anymore anyway and thus far I don’t even have any kind of cellphone and that is mostly due to price, the iPhone here in the UK is far too expensive for me at GBP £440.40 for the base 3GS or based on rates of 09/25 using calculator in SL of US $701.64.

    I know what I need and want, and that is the iPhone, and so nothing else will do, so I go without for now.

  5. @mugwump
    Did you even read the article? One trick pony? That’s the point – you can’t factor in Apple’s other product lines when looking at revenue in this space. Goldman missed the mark on this one. (sent from my iPhone)

  6. @ Apple Cider

    ‘like the Monicker.

    But maybe it’s time for those “sent from iPhone” messages could simple be signed “SFI” at the end of each message?

    That would be a distinctive way to show iPhone use and trends.

    What do you think?

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