Tag: Financial

Bank of America and Citigroup Testing Other Smartphones



Several sites have noted that Bank of America might be dropping BlackBerry as their primary smartphone. This is a strange move considering financial institutions are one of the most important institutions to focus on security, along with government and defense. If the financial sector isn’t going to take security seriously, and use a smartphone that is built from the ground up to keep important data safe, how are we to trust these institutions with our money?

The fact that these institutions are allowing other smartphones on the network may be bad for RIM’s revenues or it might not. Bank of America for example, is allowing the shift to start in trials, and while the company has a lot of employees, the smartphone industry is growing at a rate that far outpaces the number of these employees shifting.

Does it worry you that your bank may be using a less secure smartphone?

RIM Releases Q2 Fiscal 2011 Financial Results: 115 Million BlackBerrys Shipped


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RIM has recently released their Q2 fiscal 2011 financial results and among the highlights is the fact that RIM has shipped over 115 million BlackBerrys to date. The conference call is starting now so head over and listen. Other highlights include:

  • Revenue grew 31% over the same quarter last year to $4.62 billion
  • Earnings per share in the second quarter increased 76% to $1.46 over the second quarter last year(1)
  • BlackBerry(R) smartphone shipments grew more than 45% over the same quarter last year to 12.1 million and RIM has shipped approximately 115 million BlackBerry smartphones to date
  • BlackBerry subscriber account base grew approximately 56% over the prior year to over 50 million

Head over and listen to the conference call now.

Download the latest financial results from RIM here.

Save the Date: RIM Q2 Fiscal 2011 Financial Results September 16th


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Mark your calendar for September 16th as RIM will be holding its Q2 fiscal 2011 financial results conference call. The call will be held beginning at 5 pm ET, which can be accessed by dialing 800-814-4859 or by logging on at www.rim.com/investors/events/index.shtml. A replay of the conference call will also be available at approximately 7 pm by dialing 416-640-1917 and entering passcode 4310309#. The call will be available again as a replay at midnight EST on September 30th.

With the launch of the Torch and rumors that sales were low and cannibalized Bold sales, it should be interesting to see what sort of financial results RIM reports.

Canaccord Adams analyst upgrades RIM after positive sales and financials


Canaccord Adams analyst Peter Misek is upgrading RIM’s status to Buy from Hold, as recent channel checks with global carriers and partners suggesting the company had a healthy June. Although share price has lost nearly a quarter of its value since last month, the summer tends to be a slow season for the smartphone market.

That being said, BlackBerry sales with AT&T grew in the double digits month-over-month in June. With the launch of the BlackBerry Tour 9630, as well as the upcoming BlackBerry Gemini 8520, RIM is releasing more devices that has convinced Mr. Misek that RIM isn’t losing any momentum.

Even under lacklustre consumer spending conditions, Peter Misek is more comfortable with the company’s risk/reward profile now that the stock is trading at roughly 14 times Canaccord’s forward 12-month earnings projections.

RIM has demonstrated an ability to grow in very difficult conditions due to its stronghold in the enterprise and strong carrier relationships, the analyst said.

Canaccord’s price target for RIM remains at US$95 per share.


Listen to RIM’s Q1 2010 fiscal results


RIM will be reporting results for the first quarter of fiscal 2010 on June 18, 2009 after the close of the market.

A conference call and live webcast will be held beginning at 5 pm ET, which can be accessed by dialing 800-733-7571 or by logging on at RIM.com.

A replay of the conference call will also be available at approximately 7 pm by dialing 416-640-1917 and entering passcode 21289979#. This replay will be available until midnight ET July 2, 2009.

Viigo and Baystreet.ca offer Canadian financial news


BayStreet.ca is a great resource for Canadian financial news. With a new partnership with Viigo, BayStreet.ca content, ranging from breaking news to analysis of penny stocks, from global market roundups to economic commentary, will be available on the Viigo application. This makes the news effortless for people to access, easy to read and always up-to-date.

Get Viigo for your BlackBerry for free.