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RIM Earnings Call

RIM shares hit new 7 year low ahead of earnings call

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On the eve of Research in Motion’s Third Quarter Fiscal 2012 earnings call, shares in the company dropped to their lowest level since May of 2004, down 2.5% closing at $15.08.

Back at the beginning of the month RIM adjusted guidance warning that it would be at the low mid-point of what it had previously forecast and that it would record a $485 pre-tax provision for BlackBerry PlayBook inventory which the company had to deeply discount to move.

RIM’s earnings call later today should prove to be an interesting one…  What do you think will happen with RIM’s stock price (RIMM)?

Four challenge areas RBC feels RIM needs to improve

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After Research in Motion’s disappointing second quarter fiscal 2012 results RBC Capital Markets analysts released a list of 4 challenges the firm believes RIM’s failure to address led up to the companies poor showing in Q2.  RBC also believes that RIM’s valuation which is at an all time low (4x) won’t improve until this challenge areas are addressed.

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Research in Motion (RIMM) down almost 22% in after-hours trading…

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To say that yesterday wasn’t a good day for Research in Motion would be a bit of an understatement.  The company announced second quarter fiscal 2012 results yesterday and pretty much everything said was a disappointment.  It looks like, however, RIM’s night may have been even worse.  The stock (RIMM) price dropped almost 22% in after-hours trading down $-6.45 to $23.09 one hour before the markets open.

BlackBerry PlayBook Tablet OS v2 to launch after BlackBerry DevCon next month…

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Yesterday during Research in Motion’s second quarter Fiscal 2012 results earnings call co-CEO Jim Balsillie announced that a “major feature update”, BlackBerry Tablet OS v2, for the BlackBerry PlayBook will be previewed next month at BlackBerry DevCon and launch shortly after that.  BlackBerry Tablet OS v2 is expected to bring the native email, calendar, and tasks support as well as the Android App Player to the BlackBerry PlayBook.

Research In Motion Reports Second Quarter Fiscal 2012 Results

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Research in Motion reported reported Second Quarter Fiscal 2012 results today, and, to make a long story short, the fat lady ain’t singing, but, she’s definitely warming up backstage.  Even though RIM surpassed $1 billion in revenue for the first time and the BlackBerry subscriber base grew over 40% to over 70 million users, Second Quarter Fiscal 2012 results can be summed up into one word…  Disappointing.

Press Release

Research In Motion Reports Second Quarter Fiscal 2012 Results

WATERLOO, ONTARIO–(Marketwire – Sept. 15, 2011) – Research In Motion Limited (RIM) (NASDAQ:RIMM)(TSX:RIM), a world leader in the mobile communications market, today reported second quarter results for the three months ended August 27, 2011 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).

Highlights:

  • Revenue in the second quarter was $4.2 billion and service revenue surpassed $1 billion for the first time
  • GAAP net income of $329 million or $0.63 per fully diluted share; adjusted net income of $419 million or $0.80 per fully diluted share
  • The BlackBerry subscriber base grew 40% year over year to surpass 70 million
  • RIM’s largest roll-out of BlackBerry smartphones was initiated with 7 new smartphones launched with over 90 carrier and distribution partners in 30 countries during the latter part of Q2
  • Approximately $780 million was invested as part of a consortium of companies that successfully bid to acquire intellectual property assets from Nortel
  • BlackBerry smartphone shipments in Q3 are estimated to grow between 27-37% over Q2 shipments