RIM's first QNX phone revealed: BlackBerry Colt to launch in Q1 2012

By on August 8, 2011 at 10:40 AM.

RIM's first QNX phone revealed: BlackBerry Colt to launch in Q1 2012

While Research In Motion just recently announced its new BlackBerry 7 device lineup — including the fantastic BlackBerry Bold 9900 — we all know that the real-deal smartphones are still in the oven. What everyone is waiting on from RIM is the company’s QNX-based devices, which we hope will make RIM competitive in the smartphone industry once again. BGR has learned exclusive details surrounding the first QNX smartphone RIM intends to release, which is codenamed the BlackBerry Colt, and it looks like there are already going to be some compromises the company will have to make in order to launch the smartphone on schedule. Hit the break for all the details we have so far. More →

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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 →

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Best Buy Q1 earnings beat the Street, net income slides 12%

By on June 14, 2011 at 7:55 PM.

Best Buy Q1 earnings beat the Street, net income slides 12%

Shares of Best Buy stock jumped by as much as 7% Tuesday morning as the company reported results for the first fiscal quarter of 2012 that beat Wall Street’s expectations. In the quarter ending May 28th, Best Buy reported revenue of $10.9 billion, up 1% from the same quarter last year thanks to a 12% increase in online revenue. Gross profit slid 1% year-over-year to $2.77 billion and net income dropped 12% to $136 million, but the Street was expecting more of a hit as competition from online retailers like Amazon picked up. “We’re pleased that our actions improved sales trends within the quarter, with continued double-digit growth online and strong growth of mobile phones and connections,” Best Buy CEO Brian Dunn said in a statement. The company also reaffirmed its fiscal 2012 guidance, saying it expects revenue to fall between $51 billion and $52.5 billion and net income of between $3.30 to $3.55 per share. Analysts expect revenue to total $51.8 billion and EPS to reach $3.46 for the full year. Best Buy’s full press release can be seen below. More →

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