RIM stock plummeting in after hours trading

Looks like the market didn’t take too kindly to their “Q3 and Q4 will be huge” spin on their Q2 financial numbers. RIM posted a net-income of $495.5 million, or $0.86 per share diluted, RIM missed earnings per share estimates by $0.01 and gross earnings by $20 million.

In after-hours trading, RIM’s stock has slid from $97.53 at trading close to $78.10 at the time of this writing, a drop of roughly 20 points!

We’ll see if the market recovers from the initial shock once Bold sales pick up and the BlackBerry Storm is released.


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