Research In Motion (RIMM) Q4 Results Disappoint Investors, Shares Slide
Research in Motion Ltd. (NASDAQ: RIMM) is seeing shares slip in the extended trade after the smart phone maker on Wednesday announced fourth-quarter results that missed the expectations of Wall Street.
The mobile device company reported fourth-quarter earnings of $710.1 million or $1.27 per share, compared to $628.4 million or $1.10 per share earned in the same quarter last year. Analysts had expected the company to earn $1.28 per share.
Revenue for RIM increased 18 percent from $3.46 billion to $4.08 billion in the quarter, but missed the market consensus of $4.31 billion.
The company said that is shipped 10.5 million devises in the fourth quarter, while 4.9 million net new BlackBerry subscriber accounts were added in the period, as RIM continues to expand in emerging markets. At the end of the quarter, the company reported that the total BlackBerry account base exceeded 41 million.
"We managed to significantly expand our international market share while also maintaining our longstanding leadership in North America where BlackBerry continues to be the top selling smart phone brand," said Jim Balsillie, Co-CEO at RIM. "We are also very excited about our portfolio of products and services for the coming year and we continue to see exceptional opportunity for sustained growth."
Looking forward, the company sees first-quarter earnings of $1.31 to $1.38 per share, ahead of the market consensus of $1.22. First-quarter sales are being projected by the company at $4.25 billion to $4.45 billion, compared to the consensus of $4.33 billion.
UPDATE: Click here to see some highlights from Research In Motion's Q4 conference call.
The mobile device company reported fourth-quarter earnings of $710.1 million or $1.27 per share, compared to $628.4 million or $1.10 per share earned in the same quarter last year. Analysts had expected the company to earn $1.28 per share.
Revenue for RIM increased 18 percent from $3.46 billion to $4.08 billion in the quarter, but missed the market consensus of $4.31 billion.
The company said that is shipped 10.5 million devises in the fourth quarter, while 4.9 million net new BlackBerry subscriber accounts were added in the period, as RIM continues to expand in emerging markets. At the end of the quarter, the company reported that the total BlackBerry account base exceeded 41 million.
"We managed to significantly expand our international market share while also maintaining our longstanding leadership in North America where BlackBerry continues to be the top selling smart phone brand," said Jim Balsillie, Co-CEO at RIM. "We are also very excited about our portfolio of products and services for the coming year and we continue to see exceptional opportunity for sustained growth."
Looking forward, the company sees first-quarter earnings of $1.31 to $1.38 per share, ahead of the market consensus of $1.22. First-quarter sales are being projected by the company at $4.25 billion to $4.45 billion, compared to the consensus of $4.33 billion.
UPDATE: Click here to see some highlights from Research In Motion's Q4 conference call.
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