Research In Motion (RIMM) Jumps As BlackBerry Maker Tops Q4 Results and Paints Rosy Picture for Q1

April 2, 2008 5:35 PM EDT
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Price: $14.64 +12.36%

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Shares of Research In Motion Limited (Nasdaq: RIMM) are 6% higher in after-hours trading following better than expected Q4 results and strong Q1 guidance.

The BlackBerry maker reported Q4 EPS of $0.72, 2 cents better than the analyst estimate of $0.70. Revenues for the quarter were $1.88 billion, versus the consensus of $1.86 billion. RIM sees Q1 EPS of $0.82-$0.86, versus the consensus of $0.76, and revenues are expected to be $2.23-$2.3 billion, versus the consensus of $2.02 billion.

Commenting on their conference call, RIM co-CEO James Balsillie said Q1 results will be "strong". The company sees 5.3 million BlackBerry's shipped in Q1, versus the 4.4 million shipped in Q4. The company sees a Q1 average selling price of $345. RIM sees return to 'normalized growth' in Q1 and sees Q1 gross margins unchanged versus Q4. [LJ]

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