RIM lowers third quarter outlook, touts Storm sales
by Donald Melanson 
posted Dec 3rd 2008 at 1:04PM
RIM no doubt got a boost of confidence from AvianResearch's sales numbers a few days ago, but it looks to be in a bit of a gloomier mood today, as it has been forced to slightly lower its third quarter profit and revenue outlook. Apparently, instead of the previously forecast revenue of $2.95 to $3.10 billion, RIM now says it's expecting to rake in just $2.75 to $2.78 billion, with its adjusted earnings now expected to be 0.81 to $0.83 per share, and not $0.89 to $0.97 per share, as previously forecast. According to RIM's Jim Balsillie, the company is laying most of the blame on "product launch timing, general economic conditions and foreign exchange volatility," but it has nothing but good things to say about the Storm, which it says has "experienced particularly strong momentum in recent weeks." It further added that the Storm's first day of sales drew a record number of new net subscribers for the company, and that it also managed to pull in a record number of weekly net subscribers additions in the last week of the third quarter. Those interested in such things can look for the final numbers to be released on December 18th.[Via mocoNews.net]
Reader Comments (Page 1 of 1)
john paul @ Dec 3rd 2008 7:36PM
Does anyone know when RIM will launch a Bold equivalent to Verizon? Or is the curve good enough?
Corey O @ Dec 3rd 2008 11:44PM
Verizon can't have it all, ya know. They're not Microsoft. *chuckles*
Corey @ Dec 3rd 2008 11:41PM
$2.75 Billion, is that it? Poor folks at RIM.
Michael @ Dec 5th 2008 4:16PM
I love how 2.75 Billion can be made into a bad thing somehow simply because it is not AS MUCH of an INCREASE as previously expected. asinine.