“Despite lowering its forecasts for the quarter in late April, Research in Motion announced first-quarter fiscal 2012 earnings today and still missed its revenue target by hundreds of millions of dollars,” Erica Ogg reports for CNET. “The mobile device maker also announced it will start layoffs during the second quarter.”
MacDailyNews Take: This is what failure looks like.
“The company said in a press release that it expects layoffs to begin ‘in the second quarter with the benefits impacting results primarily in Q3 and beyond,'” Ogg reports. “RIM did not give any target for the number of staff reductions.”
Ogg reports, “For the next quarter, RIM is forecasting revenue between $4.2 billion and $4.8 billion, and has lowered its outlook for revenue for the full fiscal year. Now RIM is projecting earnings per share to be between $5.25 and $6.00, excluding any one-time charges or share repurchases.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Dave” for the heads up.]
MacDailyNews Take: DCW.
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