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Research in Motion (RIMM) Tops 1st Quarter Estimates

Jun 18 2009

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.

© 2009

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