“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.