Research in Motion Beats Expectations on Blackberry Curve and Torch
Research in Motion (NASDAQ:RIMM) has been in slow motion when it comes to smartphones and tablets. However, today they made new strides on sales of Blackberry Curve and Torch.
Earnings: Increased by 44% to $1.74 per share, or $911.1 million, compared to $1.10 per share, $628.4 million, in the same period a year ago.
Revenue: Increased 40% to $5.49 billion.
Actual versus Wall Street Expectations: RIMM beat the consensus analyst earnings expectation of $1.64 by $0.10. Revenues beat the expected $5.4 billion revenue estimate (Thomson Reuters).
Notable Stats: Research in Motion delivered 14.2 million smartphone units this quarter and added 5.1 million net subscribers.
Outlook: RIMM said future revenue will be between $5.5 billion and $5.7 billion, with earnings between $1.74 and $1.80 per share. That’s above Wall Street’s expectation for $5.47 billion in revenue and earnings of $1.61 per share.
Commentary: Shares of RIMM have been trying to get their groove back after Apple (NASDAQ:AAPL) and Google (NASDAQ:GOOG) have eaten their lunch with the iPhone, iPad, and Android devices. Currently, Research in Motion’s share price is still being held beneath the 50 and 200 DMA.
Disclosure: No positions.