Earnings Preview: Research in Motion
Struggling Blackberry-maker Research in Motion (NASDAQ: RIMM) is expected to release its quarterly earnings results after the closing bell on Thursday. Heading into the report, Wall Street analysts have consensus EPS estimates calling for a loss of $0.47. The high estimate is a loss of $0.13 with a low estimate of a loss of $0.72. This compares to the $0.80 in earnings that the company reported in last year's corresponding quarter.
Analysts expect that the company will report revenues for the quarter of $2.49 billion. This is a more than 40 percent decline versus the $4.17 billion that RIMM reported last year. The high revenue estimate is $3.20 billion with a low estimate of $2.21 billion.
Over the last three months, consensus earnings estimates have gone from a profit of $0.11 to the current estimate calling for a loss of $0.42. During this time, Research in Motion shares have lost nearly 26 percent. Year-to-date, the stock has plunged around 53 percent.
On Thursday, ahead of the crucial report, RIMM was trading down 2.29 percent to $6.84 at last check.
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