Friday, June 17, 2011

RIM Slashes Forecast Amid BlackBerry Weakness - Ina Fried - Mobile - AllThingsD

A tough quarter for RIM

“Fiscal 2012 has gotten off to a challenging start,” co-CEO Jim Balsillie said in a statement on Thursday. “The slowdown we saw in the first quarter is continuing into Q2, and delays in new product introductions into the very late part of August is leading to a lower than expected outlook in the second quarter.”

At the time of the April warning, the company said it still expected to be able to deliver full-year earnings of $7.50 per share, though analysts have since questioned that prediction as well.

On Thursday, RIM admitted that it, too, now sees that goal as unreachable. The company said it expects earnings for the full year to be just $5.25 to $6 per share, excluding charges.

RIM Slashes Forecast Amid BlackBerry Weakness - Ina Fried - Mobile - AllThingsD

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