RIM beats Wall Street's first-quarter earnings estimates

Research in Motion has reported first-quarter earnings on par with Wall Street's estimates, but lower than analysts' predictions

Research in Motion on Thursday reported first-quarter earnings that beat Wall Street estimates but missed the analysts' targets on revenue. The company also announced a share repurchase plan.

For the quarter, the company reported revenue of $4.24bn (£2.84bn), up 24 percent from the year-ago quarter, according to a statement. Net income came in at $768.9m, or $1.38 per share, up from the $1.12 per share reported in the year ago quarter. Analysts had been expecting earnings of $1.34 a share on revenue of $4.36bn.

Looking ahead, the company projected second quarter revenue between $4.4bn and $4.6bn, in-line with Wall Street's estimates of $4.5bn for the quarter. Second quarter earnings are expected to be between $1.33-$1.40 per share. Gross margin for Q2 is expected to be approximately 44 percent and net subscriber account additions are expected to be between 4.9-5.2 million.

For more on this story, see RIM earnings: Focused on growing global business on ZDNet.com.

Newsletters

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All