Research In Motion Falls Sharply After Hours (RIMM)
By Swing Trader
March 31, 2010 4:27 PM
March 31, 2010 4:27 PM
Shares of Research in Motion (NASDAQ: RIMM) slumped after the company missed analyst estimates on both earnings and revenues for its latest quarter.
The company reported fourth quarter earnings of $1.27 per share, short of the $1.28 consensus estimate. Revenues were also light, coming in at $4.08 billion versus the $4.31 billion consensus.
RIMM said it sees first quarter gross margins of approximately 44.5% compared to the consensus 42.9%.
The company announced that 4.9 million net new BlackBerry subscriber accounts were added in the quarter.
Shares are sinking in after-hours trading by $5.40, or 7.3%, to $68.57.
(c) 2012 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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