RIM set to unveil Q3 earnings today
Posted Dec 15, 2011 06:22:02 AM.
This article is more than 5 years old.
Research In Motion is set to report its earnings after markets close today, and analysts expect RIM to report shrinking profits and reduced global revenue growth.
The Waterloo-based company is still a major revenue producer with annual sales of well over 20-billion dollars.
However, the smartphone and tablet maker continues to face intense competition from Apple and Android devices and has lowered the bar for its earnings.
RIM has already warned it will book a $485-million-dollar charge for cutting the price of PlayBooks by more than half to help boost sales.
It also expects $50-million dollars in lost revenues from the massive October outage that affected millions of BlackBerry users around the world.
RIM stock hit it’s lowest point since 2004 closing at $15.69 per share yesterday.
Today – analysts are not only looking to see the current numbers – but also for word on the new operating system from the company.
Of note, will it it be on time?
