RIM beats earnings estimates, falls just shy on subscriber growth; co-CEOs now co-chairmen, too

<DIV class=separator style="CLEAR: both; TEXT-ALIGN: center"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTDK5vtAZ93gdUfsQwNrpqurSaFbtXGuWYsg7WX6pdzLT0i6uv178pUifQyNlxJI6aexS9n_CIMd27pebDaQ2gFMujzT379LLUTWvYnEu1SJk2atMlNTuC6RDJippwPIfyoc-mBwyIorE/s1600/11-16-10-web202600060-1289937793.jpg" imageanchor="1" style="MARGIN-LEFT: 1em; MARGIN-RIGHT: 1em"><img border="0" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTDK5vtAZ93gdUfsQwNrpqurSaFbtXGuWYsg7WX6pdzLT0i6uv178pUifQyNlxJI6aexS9n_CIMd27pebDaQ2gFMujzT379LLUTWvYnEu1SJk2atMlNTuC6RDJippwPIfyoc-mBwyIorE/s320/11-16-10-web202600060-1289937793.jpg" width="320"></A></DIV>For now, RIM's looming mindshare problem is more theoretical than it is practical -- as far as Wall Street's concerned, at least -- on today's news that they've beaten the consensus estimates for fiscal Q3 revenue and income with $5.49 billion and $911.1 million, respectively. The company also shipped a record 14.2 million units in the three-month period, up a whopping 40 percent year-over-year, but subscriber additions fell a bit short -- 5.1 million versus the 5.2 million that analysts had counted on. Interestingly, RIM has elected not to report adds anymore, which means they're not offering guidance on adds for the next fiscal quarter, either -- which certainly doesn't seem like a good sign. Be that as it may, Waterloo's confidence in its long-running leaders seems stronger than ever before, because co-CEOs Jim Balsillie and Mike Lazaridis have just been made co-chairmen of the board... presumably just so they can crack jokes about running "dual-core" board meetings. Anyhow, they're looking at revenue for the next quarter of $5.5 to $5.7 billion and earnings per share of $1.74 to $1.80, both of which outstrip estimates, on device sales of 14 million. Any PlayBooks in that figure, do you suppose?

RIM beats earnings estimates, falls just shy on subscriber growth; co-CEOs now co-chairmen, too

For now, RIM's looming mindshare problem is more theoretical than it is practical -- as far as Wall Street's concerned, at least -- ...

Continue Reading>>