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. RIMM, just WHERE is your competitive consumer touchsreen phone??…you’ve had close to three years now to really come up with something decent, and what you have out there just aint it.
    Jump off your corporate pride and compete on a consumer level.
    The arrogance of what Ballsy said when the iPhone came out…I haven’t forgotten.
    Cult shareholders…demand a real consumer product and a real product line from your CEO’s, because Apple’s next new additional device, not upgrade existing, is gonna kill you. 15 months out the door, and 77,000 apps…many that are extremely useful. Maybe Jobs was right when he said they were 5 years ahead of the competition.
    Blackberry, where is your consumer touch product to bulk your down quarters??? Even Palm has made a brave attempt and taken some of your sales. If Palm can come out the door with something, then why can’t you. 50% return rate on your cumbersome touch product??? Unbelievable! Get busy, or get a new CEO!

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