• Clueless leaders

    Zim's leaders are clueless about managing the economy or leading the nation, says Malcom Sharara.

  • Govt is out of touch

    Journalists seems to know more than those paid to govern us, says Mandi Smallhorne.

  • Terry Bell's Inside Labour

    Private firms can't be blamed for picking up anything lucrative on offer, says Terry Bell.

All data is delayed
Loading...
See More

RIM stock sinks on profit plunge

Dec 16 2011 11:53
AFP

San Francisco - BlackBerry maker Research In Motion on Thursday saw its stock price sink after reporting a plunge in quarterly earnings and dimmed expectations for the months ahead.

The Canada based firm reported a profit of $265m, or 51 cents per share, on revenue of $5.2bn as compared with a net income of $911m in the same quarter last year.

RIM profit in the quarter ended November 26 fell far short of Wall Street forecasts and the stock price dropped more than six percent to $14.13 in after-hours trading that followed release of the figures.

RIM said it had yet to finalise its outlook for the current fiscal quarter but preliminary estimates were that device shipments would slide and that it would not meet its original forecast of earning $5.20 to $6 per share.

A costly BlackBerry service outage and deep discounting of the price of its PlayBook tablet computer were cited as factors in RIM's disappointing financial performance.

research in motion  |  blackberry

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...