CNBC's Jon Fortt: "RIM's Guidance is Awful"

CNBC tech correspondent Jon Fortt is describing Research in Motion's

guidance as "awful." The company released its Q3 earnings after the closing bell on Thursday. RIMM beat EPS estimates $1.27 vs. $1.19, but missed revenue estimates $5.2 billion vs. $5.27 billion. Jon Fortt tweeted that "RIM guidance is awful at $4.6B-$4.9B in revenue, 38% gross margins, and just 11 to 12 million smartphone units." The company is also providing fiscal Q4 EPS guidance that is well below consensus estimates. RIMM sees Q4 EPS between $0.80 and $0.95 versus Street consensus of $1.08. RIMM shares are down 6.35% to $14.17 in Thursday's after hours trading session.