Earnings Preview: Research in Motion

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Struggling Blackberry-maker Research in Motion
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.
Posted In: EarningsNewsIntraday UpdateMoversTech
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