The Associated Press has released an earnings preview for RIM’s fiscal first quarter report that’s happening at 5pm EST today. The preview gives a nice retelling of the events surrounding RIM in the past few months before getting down to the juicy bits. RIM released a first-quarter earnings forecast in April expecting earnings of 60 to 65 cents per share for fiscal Q1, with with revenue of $580 million to $610 million USD. Based on a poll by Thomson Financial, analysts expect the company to report, on average, earnings of 65 cents per share on $602.1 million USD in revenue.
However, while analysts are expecting RIM’s Q1 earnings to fall within expectations, they also expect second-quarter estimates may come in at the high-end of the company’s guidance.
“The company is entering its seasonally slower period, which makes us slightly more cautious of fiscal second-quarter (August) guidance. Specifically, we expect our estimates of $634.7 million (in revenue) and (earnings of) 72 cents per share to be at the upper end of guidance,” Pacific Crest analyst James Faucette wrote in a note.
Analysts expect the company to report 72 cents per share on $635.9 million USD in revenue for the second quarter.