RIM (RIMM) Slammed Followng Q2 Miss; PlayBook Shipments Light; Sees FY12 EPS at Low-End of Range
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Research In Motion (Nasdaq: RIMM) is getting slapped in after-hours trading Thursday, following a second-quarter 2012 earnings miss from the Waterloo, CA-based BlackBerry maker.
Revenue for the company fell 15 percent year-over-year, to $4.17 billion.
Net income available to shareholders fell 58.7 percent to $329 million, or 63 cents per share.
Overall, the Street was looking for earnings of 87 cents per share on revenue of $4.47 billion.
RIM said that BlackBerry subscriber base grew 40 percent to surpass 70 million. The company said about 10.6 million BlackBerry devices were shipped in th quarter, with about 200,000 PlayBook tablets. Estimates had expected more robust PlayBook shipments, in the neighborhood of 500,000 to 700,000, or more.
"We successfully launched a range of BlackBerry 7 smartphones around the world during the latter part of the second quarter and we are seeing strong sell-through and customer interest for these new products," Jim Balsillie, Co-CEO at RIM, commented. "Overall unit shipments in the quarter were slightly below our forecast due to lower than expected demand for older models."
Looking ahead, RIM sees third-quarter adjusted earnings of $1.20 to $1.40 per share and revenue of $5.3 to $5.6 billion, versus consensus views calling for earnings of $1.36 and revenue of $5.27 billion. RIM also sees adjusted earnings to a low-end of prior guidance, which called for a range of $5.25 to $6.00 per share.
Shares of RIM are down 10 percent to $26.50 in after-hours action Thursday.
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Revenue for the company fell 15 percent year-over-year, to $4.17 billion.
Net income available to shareholders fell 58.7 percent to $329 million, or 63 cents per share.
Overall, the Street was looking for earnings of 87 cents per share on revenue of $4.47 billion.
RIM said that BlackBerry subscriber base grew 40 percent to surpass 70 million. The company said about 10.6 million BlackBerry devices were shipped in th quarter, with about 200,000 PlayBook tablets. Estimates had expected more robust PlayBook shipments, in the neighborhood of 500,000 to 700,000, or more.
"We successfully launched a range of BlackBerry 7 smartphones around the world during the latter part of the second quarter and we are seeing strong sell-through and customer interest for these new products," Jim Balsillie, Co-CEO at RIM, commented. "Overall unit shipments in the quarter were slightly below our forecast due to lower than expected demand for older models."
Looking ahead, RIM sees third-quarter adjusted earnings of $1.20 to $1.40 per share and revenue of $5.3 to $5.6 billion, versus consensus views calling for earnings of $1.36 and revenue of $5.27 billion. RIM also sees adjusted earnings to a low-end of prior guidance, which called for a range of $5.25 to $6.00 per share.
Shares of RIM are down 10 percent to $26.50 in after-hours action Thursday.
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