You would think that gaining 107% growth on last year’s revenue would be something worth bragging about, but apparently analysts were expecting a little more from Research in Motion in the Q1 earnings report issued yesterday, and as a result shares dropped 7.8% overnight. Subscribers were up by 2.3 million, totaling 16 million, and revenue hit $2.24 billion for the quarter. Analysts were expecting $2.27 billion – not what you’d call a dramatic failure of expectations, but it seems like you either blow the expectations out of the water, or you disappoint… There’s not much gray area in between. Spending was a little higher due to BlackBerry Bold marketing, and the incoming 3G iPhone has stockholders a little shakey. Last week RIM’s stock hit a lofty $147, so this is a bit of a downer to follow up with, but c’mon, the Bold is coming up this quarter, which will do its fair share of impressing.
Tag: quarterly-resultsPage 2 of 5
The numbers are in, and they’re peachy as ever. Revenue was up to $1.88 billion for the quarter and $6.01 billion for the year, both doubled from the same time last year. 2.18 new subscribers were added, capping out the total BlackBerry users at 14 million, which lines up nicely with their updated forcast issued back in February. Investors were looking forward to the report, and by the sounds of it, they weren’t disappointed.
Canaccord Adams has an optimistic outlook for RIM’s quarterly report coming out tonight, claiming results will exceed expectations. There’s high a volume of orders out there for the recently-launched CDMA Curve, slated to do go out across three carriers, which should push sales well into the next quarter. As for the competition? “[Canaccord Adams analyst Peter Misek] sees no credible threats to RIM’s dominance in this segment, saying Nokia is ‘still nowhere’ in enterprise and Apple’s iPhone has ‘failed to make a dent’ despite recent enterprise-related announcements.” The Financial Post also alludes to a clamshell BlackBerry. I dunno about you guys, but I haven’t heard a peep about that. Considering it was mentioned in the same breath as “touchscreen”, it might be worth shrugging off as wishful thinking.
The results are in, and they’re peachy as ever. Revenue was up 22% from last quarter to $1.67 billion, with $1.8 – $1.87 billion forecasted for next quarter. RIM’s stock has been enjoying a jump, having climbed $12.12 to $119.11 in early trading. 1.65 million new subscribers came in and 3.9 million devices shipped out during the 3 months leading up to December 1st. With such good news, we can brush off the iPhone a little more soundly, along with their 1.1 million units sold last quarter.
In case you’ve forgotten, RIM’s conference call is tonight at 5 PM EST. ABI Research is guessing that BlackBerry will have cornered 10% of the smartphone market after this quarter, second only to Nokia. RIM’s stock took a nice jump this morning, showing some investor confidence despite a few shaky weeks. These calls tend to be pretty optimisic, but question period could bring up some issues hint at RIM’s direction for the new year. We’ll be sure to give you guys the low-down first thing tomorrow morning.