Friday, September 16, 2011

RIM Profit Falls 58.7%, Raising Doubts - NYTimes.com

Another grave milestone for RIM

RIM said that its second-quarter net income fell by 58.7 percent to $329 million, or 63 cents a share, from $797 million, or $1.46 a share, in the same quarter a year ago. Revenue fell by 10 percent to $4.2 billion, an amount greater than analysts had expected.

“We question the company’s long-term viability,” said Bill Kreher, an analyst with Edward Jones. “The clock is ticking.”

RIM Profit Falls 58.7%, Raising Doubts - NYTimes.com

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