RIM Lowers Guidance Amidst Poor Q1
The BlackBerry maker shipped 13.2 million smartphones in the quarter and 500,000 PlayBooks in the tablet's first six weeks on the market. (See RIM PlayBook: LTE & HSPA+ Versions Coming.)
RIM made a net profit of $695 million, or $1.33 a share, on revenue of $4.9 billion. A year earlier it reported a profit of $769 million or $1.38 a share on revenues of $4.24 billion.
Analysts polled by FactSet expected a profit of $1.32 per share on revenue of $5.1 billion.
Shares of RIM are down $5.40 (15.28%) to $35.47 in after-hours trading.
— Sarah Reedy, Senior Reporter, Light Reading Mobile