BlackBerry Forums Support Community - RIM 2nd Quarter NI Up 72%, Shares Drop

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jessep28

09-25-2008 03:42 PM

RIM 2nd Quarter NI Up 72%, Shares Drop

RIM earnings surge on BlackBerry sales

Quote:

"SAN FRANCISCO (MarketWatch) -- Research In Motion net income soared 72% for its second fiscal quarter on strong sales of its BlackBerry wireless devices. However, the Waterloo, Ontario-based company shares dropped more than 15% in after-hours trading after the company also issued a weaker-than-expected earnings forecast for the current period -- suggesting that expenses will remain high as it tries to launch several new devices. "

smartphonefan

09-25-2008 07:20 PM

That's because people are holding off buying BB and wait for the new Bold and Storm.

masonfoley

09-25-2008 08:19 PM

Yeah, I believe their product cycles have misfired a bit and they are taking a hit for it.

jessep28

09-25-2008 09:54 PM

Quote:

Originally Posted by masonfoley (Post 1114978)

Yeah, I believe their product cycles have misfired a bit and they are taking a hit for it.

Not necessarily.

They are pushing a lot of products out in a relatively short period of time. The costs to launching so many products are going to push the stock price down in the short term. Providing these new devices are successful, we should see profitability and thus stock price bounce back up.

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