RIM Stock Plummets 13% After Barely Missing Estimates
June 26th, 2008 | by BlackBerry News |
A day after releasing their Q1 results which had lower than expected earnings despite profits to the sum of $482.5-million, shares in Research In Motion plummeted over 13% on the Toronto Stock Exchange ($18.86 CDN) and NASDAQ Stock Market ($18.95 USD).
As for the next quarter, the Waterloo-based company is predicting strong summer sales relating to the release of the Bold and has set a target of $2.55 to $2.65 billion with profits per share in the range of 84 to 89 cents. They are also aiming to add 2.6 million new subscribers.
If you are tempted to buy some RIM shares after today, at least one analyst thinks that it would be a good idea to wait.
Written by BlackBerryForums.com user MikeyPants (Previous BlackBerryNews Writer)
3 Responses to “RIM Stock Plummets 13% After Barely Missing Estimates”
By Jagga on Jun 28, 2008 | Reply
Yeah this was pretty horrendous seeing it drop in less than 6 minutes, just after the reports came in, and up to 8mins … even second by second view on CNBC Headline News - was like galaxian video game yet MUCH worse. They’ve lowered their expectation for next qtr to be in line with current results … $0.84 US Cents … instead of 85.