RIM slashes BlackBerry prices in India one day ahead of Q4 earnings

By on March 28, 2012 at 1:35 PM.

RIM slashes BlackBerry prices in India one day ahead of Q4 earnings

Research In Motion has made drastic cuts to BlackBerry smartphone prices in India just one day before the Waterloo, Ontario-based vendor is scheduled to report its results for the fourth quarter of fiscal 2012. Several analysts expect RIM to miss Wall Street’s consensus when it announces its earnings results on Thursday, despite having issued lower than expected fourth-quarter guidance. The struggling smartphone vendor dropped prices on multiple models in India by up to 26%, BGR sister site BGR.in reported on Wednesday. Devices that have received price cuts include the BlackBerry Curve 9360, the Curve 9380, the Torch 9860 and the Curve 8520, RIM’s best-selling smartphone in India. RIM beat expectations in the third fiscal quarter when it reported revenue of $5.2 billion and earnings of $1.27 per share, but analysts are bracing themselves for a disappointing fourth quarter. More →

No Comments

RIM reports Q1 earnings: misses analyst estimates, Q2 outlook misses, layoffs coming

By on June 16, 2011 at 4:32 PM.

RIM reports Q1 earnings: misses analyst estimates, Q2 outlook misses, layoffs coming

Research In Motion on Thursday reported earnings for the first quarter of fiscal 2012. After cutting its first-quarter outlook at the end of April, RIM’s May quarter came in below analyst estimates. First quarter revenue came in at $4.9 billion versus the Street’s estimate of $5.5 billion, and device shipments totalled 13.2 million versus expectations of 13.5 million. Net income for the quarter was $695 million, down from $769 million in the same quarter a year earlier. Earnings per share in the first quarter beat estimates by a penny at $1.33. RIM’s revenue for the quarter breaks down as 78% hardware, 20% service, and 2% software and other revenue. In the second quarter, RIM trimmed its outlook to $4.2-$4.5 billion in revenue, significantly under the Street’s consensus of $5.46 billion. RIM’s second-quarter EPS forecast is just $0.75-$1.05 versus $1.40 consensus. For the full year, RIM cut its EPS outlook from $7.50 to between $5.25 and $6 per share. “Fiscal 2012 has gotten off to a challenging start,” RIM Co-CEO Jim Balsillie said in a statement. “The slowdown we saw in the first quarter is continuing into Q2, and delays in new product introductions into the very late part of August is leading to a lower than expected outlook in the second quarter.” RIM also said it would soon begin a “program to streamline operations” that will involve job cuts. Shares of RIM stock opened down 15% in after-hours trading. RIM’s full press release follows below. More →

44 Comments

RIM reports Q4 earnings; revenue misses estimates despite record shipments

By on March 24, 2011 at 4:35 PM.

RIM reports Q4 earnings; revenue misses estimates despite record shipments

Shares of Research in Motion stock declined over 12% after hours on Thursday as the company reported its fourth-quarter earnings for its 2011 fiscal year. RIM reported revenue that missed Wall Street’s consensus on device shipments that exceeded expectations by 200,000 units. Fourth-quarter revenue came in at $5.6 billion, just below the $5.64 billion analysts expected. Device shipments for the quarter totalled 14.9 million units, beating estimates of 14.7 million units, and full-year shipments were a record 52.3 million units — a 43% improvement over the year prior. Full-year revenue of $19.9 billion grew 33% over the 2010 fiscal year and net income was up 47% year-over-year to $3.4 billion. “We are pleased to report record shipments and financial performance in fiscal 2011,” said RIM’s Co-CEO Jim Balsillie in a statement. “As we enter fiscal 2012, RIM is in an excellent position to benefit from the continuing convergence of the mobile communications and mobile computing markets. We are laying a strong foundation for RIM’s expanding market opportunity through focused investments and we are extremely excited about our smartphone, tablet and platform roadmaps.” Hit the break for the full press release. More →

32 Comments

RIM Q3 beats the street; good Q4 guidance

By on December 16, 2010 at 5:42 PM.

RIM Q3 beats the street; good Q4 guidance

Research In Motion reported its third quarter earnings Thursday evening, and it beat Wall Street’s estimates in several key areas. The BlackBerry maker’s revenue was up 40% year-over-year to $5.5 billion on record shipments of 14.2 million devices — also up 40% year-over-year. This beat the street’s consensus of $5.4 billion in revenue and shipments of 14 million. The $317 average selling price of RIM’s BlackBerry smartphones beat the street’s consensus of $310, though RIM added 5.1 million subscribers during the quarter, which fell below the street’s consensus of 5.2 million. Total subscriber count was 55 million, however, which is up 49% year-over-year. RIM expects fourth quarter revenues of $5.5 to $5.7 billion and 14.3 to 14.9 devices shipped.

“RIM delivered upside surprise on ASPs and GMs — both key metrics,” wrote Mike Abramsky, Managing Director at RBC Capital Markets, in a note to investors. “Importantly, Q4 guidance calls for Q/Q growth in both revenue and EPS on healthy margins, above street and investor expectations. We believe street estimates should come up tomorrow, given the healthy Q4 guide and likelihood that more analysts reflect PlayBook into their estimates.”

Hit the break for the full press release from RIM. More →

26 Comments

Analyst sees solid demand for BlackBerry Torch; PlayBook sales to be unimpressive

By on December 7, 2010 at 9:50 AM.

Analyst sees solid demand for BlackBerry Torch; PlayBook sales to be unimpressive

In a note to investors Monday, Barclays Capital analyst Jeff Kvaal restated his “overweight” rating and set an $85 target for shares of RIM’s stock. Kvaal thinks the company will report a solid third quarter, and he believes current demand for the BlackBerry Torch to be “solid.” AT&T’s decision to drop the BlackBerry Torch to $99 last month played a big role in bolstering sales, the analyst believes, and he raised his Q3 estimates from 13.9 million units to 14.1 million as a result. Moving on to 2011, Kvaal sees RIM launching several handsets in the first half of 2011, including an update to the Curve 8900, a “Touch Bold” and a third version of the BlackBerry Storm. Sales of RIM’s first QNX-based tablet are projected to be quite low, however, and QNX-based handsets are not expected until the second half of 2011 at the earliest. Kvaal estimates BlackBerry PlayBook sales of 3 million units in 2011, and Gleacher & Co. analyst Mark McKechnie estimates PlayBook sales of only 1.8 million units through February 2012. More →

30 Comments

AT&T cuts BlackBerry Torch price in half; now $99.99

By on November 11, 2010 at 2:22 AM.

AT&T cuts BlackBerry Torch price in half; now $99.99

AT&T has slashed the price of its flagship BlackBerry smartphone in half. The BlackBerry Torch, which became available in August 2010, is RIM’s first smartphone to feature both a touchscreen and a physical QWERTY keypad. It was also the first BlackBerry to launch with RIM’s new OS, BlackBerry 6. It initially hit store shelves at $199.99 and after roughly three months, the Torch is now available for $99.99 with a 2-year contract. A price drop after this length of time is not necessarily an indication of poor sales, as several blogs have speculated, though many analysts agree that sales have been less than spectacular. At it’s new price point, which is below the magical $100 mark, AT&T clearly hopes that the BlackBerry Torch will finally spread its wings this holiday season. More →

40 Comments

HTC Surround and Samsung Focus available November 8th from AT&T [Updated]

By on October 28, 2010 at 11:57 AM.

HTC Surround and Samsung Focus available November 8th from AT&T [Updated]


AT&T announced Thursday that the HTC Surround and Samsung Focus will be available beginning November 8th. The Surround and Focus represent two of the carrier’s three Windows Phone 7 launch phones. AT&T’s third Windows Phone 7 handset, the LG Quantum, will also launch on November 8th. The carrier also said Thursday that its BlackBerry Torch smartphone will be available in red and white starting November 7th, and that it will launch a new promotion giving a free accessory to customers who purchase two other accessories at full price. Hit the jump for a press release outlining plenty more that AT&T has in store for the holidays. More →

26 Comments