“Research In Motion Ltd. (RIMM) plunged as much as 20 percent, the most in more than nine months, after posting a loss and delaying the next BlackBerry operating system, increasing pressure on the company to find an acquirer,” Hugo Miller and Serena Saitto report for Bloomberg.
“RIM reported a first-quarter loss yesterday of 37 cents a share, excluding some items, more than five times bigger than what analysts had predicted,” Miller and Saitto report. “Sales tumbled 43 percent to $2.8 billion, missing a prediction of $3.05 billion, and the company said it would cut 5,000 jobs.”
Miller and Saitto report, “‘They either sell, break up the company or die,’ said Matt Thornton, an analyst at Avian Securities LLC in Boston who has a neutral rating on RIM. ‘It is just a question of when.'”
Read more in the full article here.
MacDailyNews Take: We can hear DCW’s death rattle from here.
BlechBerry: Beleaguered RIM slashes 5,000 jobs, 30% of workforce; sales crumble – June 29, 2012
Beleaguered RIM delays BlackBerry 10 OS until 2013 – June 28, 2012
Why beleaguered RIM won’t be bought: Not much value in a dying platform – June 26, 2012
Former half-CEOs Balsillie, Lazaridis pocket $12 million in ‘entitlements’ from beleaguered RIM – June 15, 2012