Shares of BlackBerry maker Research In Motion Ltd. (Nasdaq: RIMM) plummeted in after hours trading yesterday (Thursday) after the company missed Wall Street’s earnings and sales expectations.
For its second quarter ended August 29, RIM reported net income of $475.6 million, or 83 cents per share on revenue of $3.53 billion. That compares to a net income of $643.0 million, or $1.12 per share on revenue of $3.42 billion in the same quarter a year ago.
Analysts expected RIMM to earn $1 per share on revenue of $3.62 billion, according to Briefing.com.
T), said it activated more than 2.4 million iPhone accounts, but that number is limited to the United States, where AT&T is the exclusive carrier of the smartphone.in the quarter, bringing the total account base to 32 million, RIM said. AT&T Inc. (NYSE:
Roughly 8.3 million BlackBerry smartphones where shipped in the quarter, versus 5.2 million iPhones in Apple’s last reported quarter, which ended June 27.
RIM shares were trading at $73.55 in after hours trading this evening, down 11.45%.
News and Related Story Links:
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Analyst Estimates (compiled by Briefing.com)
- Money Morning:
Research in Motion Still Leading the Smartphone Pack
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