Breakingviews | Blackberry

Considered view

19 Jun 2009 09:14

That’s so 2007

Context News

Research in Motion, the maker of the popular Blackberry line of smartphones, reported first-quarter earnings of 98 cents per share on revenues of $3.42bn. Wall Street analysts’ average estimates were for earnings of 94 cents per share on revenues of $3.42bn. The company said it shipped 7.8m Blackberry smartphones during the quarter, below the 8.3m it expected. It reported 3.8m new subscribers, also below its expectation of 4.2m.

RIM gave guidance for its second quarter including earnings of 94 cents per share to $1.03 per share, and revenues of $3.45bn to $3.7bn.

During the boom it was cool to be an investment banker – or just look like one. A shiny new gadget from Research in Motion was the accoutrement of choice for wannabe financial engineers. RIM’s latest numbers suggest that may be changing.

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