Research in Motion reported 2nd quarter fiscal 2010 results yesterday after the close of business. Revenue was $3.53 billion, up 3% from $3.42 billion in the previous quarter and up 37% from $2.58 billion in the same quarter of last year and RIM shipped about 8.3 million devices.
Research in Motion co-CEO, Jim Ballsillie said ,”We are pleased to report a strong second quarter with excellent financial performance, successful product launches and accelerating growth in international markets and new market segments“.
Ballsillie also said that that earnings fell about 4% and RIM’s stock price (ticker RIMM) had been spiraling downward in after hours trading ever since. Analysts have, pretty much downgraded the stock across the board. At the time of this posting RIM’s stock price is down over 9 bucks at $73.73. It closed yesterday at $83.06.
The game is changing for RIM. The battlefield is now with consumers. It’s a shame, actually, that the BlackBerry Curve is still the best selling BlackBerry device. It has been out for well over two years. RIM better get newer, low end BlackBerrys to the big carriers like Verizon and AT&T and stop experimenting new concepts with T-Mobile.
If the 8520 were available on Verizon and AT&T, we probably wouldn’t see RIMs price tanking this morning…
The Apple iPhone factor is clearly starting to effect RIM as it has done to many other manufactures before.
This could be causing the downturn too:
BlackBerry Internet Service down in North America again?
Posted by Boy Genius on Sep 22, 2009
We’ve been hit with a flood of tips, signals of distress, and even violent outbursts about another possible BIS outage for BlackBerry subscribers. Verizon seems to be popping up as a common theme in these tips, so we’ll ask you guys… any issues?
http://www.boygeniusreport.com/2009/09/22/blackberry-internet-service-down-in-north-america-again/
Guess RIMarkable isn’t reporting on outages anymore?
Is the iPhone a factor? Clearly it is… Not nearly as big a factor as you think, but, RIM, undoubtedly, would sell more BlackBerry devices if it were not for the iPhone.
Seeing how the outage which Boy Genius reported happened after the close of the fiscal quarter for which RIM just released results for, it couldn’t possibly have affected sales before it actually happened.