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RIM reports better than expected earnings, stock pops $8 after hours

Posted: , by Alan F.

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RIM reports better than expected earnings, stock pops $8 after hours
RIM reported better than expected earnings for the latest quarter. The results were so positive that the stock of the BlackBerry maker popped $8 in after hours trading. Profits rose to $628.4 million in the third quarter, or $1.10 a share, from the $396.3 million earned in the 2008 period, which translated into 69 cents per share. Wall Street was looking for $1.04. For the current period, RIM is expecting profits of $1.23 to $1.31 a share with margins of 43.5% and 4.4 to 4.7 million new subscribers. Analysts were looking for $1.12 for the current three month period.

RIM has benefited from the improving Storm touch screen device which had improved tremendously thanks to upgrades, even before the sequel model was released last month. The company will probably soon be feeling some headwinds from the Android invasion which has taken over the number one U.S. carrier, Verizon, and has lead to Big Red appointing the Motorola DROID as its flagship model in place of the BlackBerry Storm. Still, new models like the 9700 Bold and the 9630 Tour have garnered positive reviews and brisk sales. RIM has a Wi-Fi enabled sequel to the Tour and a newly revised Pearl coming and there is constant talk of a Touchscreen with QWERTY slider eventually making the lineup.

source: YahooFinance


6 Comments
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posted on 20 Oct 2010, 01:44

1. vzw fanman (Posts: 1972; Member since: 11 Dec 2008)


congrats to blackberry.

posted on 17 Dec 2009, 17:21

2. dandirk (unregistered)


I must say, I sort of miss my curve (just upgraded to droid). Texting/chatting and email were very quick and easy. Just pulled the curve from my pocket, 1 click and I am typing away. Blackberry is king in those departments, its all the other stuff they kinda lack... I am pretty disappointed with keyboard on the droid, the onscreen one in landscape is nice though. Just gotta get used to it...

posted on 17 Dec 2009, 17:35

3. vzw fanman (Posts: 1972; Member since: 11 Dec 2008)


I love the keyboard...you don't think texting is easy on this? I had a storm before this and it took me just as many steps to compose an email and text that it does on the droid...sorta confused bro.

posted on 17 Dec 2009, 17:58

4. Rico Dinero (Posts: 21; Member since: 28 Oct 2009)


The Droid is a cool toy but thats all it is. I went from BB's to a Droid a couple of weeks ago and faster then I can get the web on it, i returned it for a Storm 2. I hated going thru a maze trying to get my email or texts or hell..my menu. As for Apps, the Droid has some "apple" like apps however how many do you end up keeping? I didnt keep any. Granted BB also has App World however the popularity isn't the same due to all the functionality Apps that are avail.

posted on 17 Dec 2009, 18:55

5. vzw fanman (Posts: 1972; Member since: 11 Dec 2008)


i had the storm and the droid is a much better experience. what do you mean a maze? imap email on the blackberry sucks btw... all i do is hit email and there it is. or hit messaging and there it is...still confused. and to call my favorite people i just hit the icon on the homescreen. and also to navigate home i also hit an icon, i don't have to go through the menus like the storm...also now that i have seven homescreens i don't know why any one would chose a blackberry except for bbm and the enterprise service.

posted on 18 Dec 2009, 17:45

6. sonisoe (Posts: 329; Member since: 06 May 2009)


yup in messaging dept, no doubt bb is the king overall, just wish they had a much more powerful OS like the android + less "business" oriented in terms of the overall design hardware and user interface......and who 's to say bb wont take over the world when that happens..

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