RIM Doubles Profit, Misses Expectations

BlackBerry maker Research in Motion said on Wednesday it doubled its quarterly profit from a year ago but missed Wall Street's lofty expectations.

RIM (RIMM: 123.46, -18.88, -13.26%) posted earnings of 84 cents per share on $2.24 billion in sales in its fiscal first quarter after the market closed. A year ago the Waterloo, Ontario-based company earned 39 cents on $1.08 in revenue.

Analysts polled by Thomson Reuters had been expecting earnings of 85 cents on $2.3 billion in sales.

Shares of RIM fell 10% in after-market trading following the results.

Read Full Article from FoxBusiness

- Posted: 2008-06-26 21:57:03

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