Research in Motion (RIMM) Tops 1st Quarter Estimates
Jun
18
Written by:
6/18/2009 10:54 PM
Research in Motion (RIMM) Tops 1st Quarter Estimates
The maker of the most popular PDA for business, the Blackberry, continues to improve it’s market share in the consumer segment. The company reported earnings today beating first quarter estimates of 94 cents. The company earned $1.12 per share on $3.42 billion in revenue. The income number included a one time tax benefit but the company still beat by 4 cents even without the beneficial item.
Market Share Improvement
The company reported that their share of the smart phone market improved over the past 2 quarters from 40% to 55%. The Blackberry Curve is dominating competition from the Apple iPhone, the Palm Pre and Google’s Android. Apple (AAPL) improved slightly on the day falling late. Palm Inc. (PALM) slid 5% while Google (GOOG) remained flat.
Second Quarter Estimates
The only downside of the report was RIMM’s conservative estimates for the second quarter which included 94 cents to $1.03 of income on revenue in the range of $3.45 billion to $3.7 billion. Analysts are hoping for numbers on the high end of both of those estimates. RIMM could fall in the near term and recover as their earnings show better visibility in the months to come.
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