Canaccord Genuity Morning Coffee on Research In Motion (RIMM): We Looked Up These Results On Our iPhones
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity Morning Coffee on Research In Motion (Nasdaq: RIMM): We looked up these results on our iPhones (Nasdaq: AAPL).
Research In Motion reported a Q4 loss of $125 million, or $0.24 per share as it booked large writedowns on its BlackBerry 7 phones and goodwill. On an adjusted basis, net income fell to $418 million or $0.80 per share versus earnings of $934 million, or $1378 per share the prior year. Revenue fell to $4.19 billion from $5.56 billion the prior year. Analysts were expecting earnings of $0.81 per share on revenue of $4.54 billion. The company shipped 11.1 million BlackBerrys and over 500,000 PlayBooks in the quarter. Looking ahead, the company said it had stopped providing quantitative guidance, although it did say it expects revenue to be pressured for the next few quarters. Several executives also resigned following the weak quarter, and Jim Ballsille quit his post as director, severing his ties with the company his name has been associated with for several years. Management said that RIM will look at its strategic options going forward, which could include partnerships, joint ventures and licensing arrangements.
Research In Motion reported a Q4 loss of $125 million, or $0.24 per share as it booked large writedowns on its BlackBerry 7 phones and goodwill. On an adjusted basis, net income fell to $418 million or $0.80 per share versus earnings of $934 million, or $1378 per share the prior year. Revenue fell to $4.19 billion from $5.56 billion the prior year. Analysts were expecting earnings of $0.81 per share on revenue of $4.54 billion. The company shipped 11.1 million BlackBerrys and over 500,000 PlayBooks in the quarter. Looking ahead, the company said it had stopped providing quantitative guidance, although it did say it expects revenue to be pressured for the next few quarters. Several executives also resigned following the weak quarter, and Jim Ballsille quit his post as director, severing his ties with the company his name has been associated with for several years. Management said that RIM will look at its strategic options going forward, which could include partnerships, joint ventures and licensing arrangements.
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