RIM's turnaround prospects: Analysts highly skeptical |
| ZDNet - Sep 28, 2012 |
Research in Motion delivered better-than-expected second quarter sales, showed it can be resilient and even sparked some hope about a turnaround. Analysts were having none of it.
The commentary following RIM's quarter was across the board negative. Sure, analysts gave RIM a few props, but for the most part agree that the company is toast.
Research in Motion reported a second quarter loss of $235 million, or 45 cents a share, compared to earnings of $329 million, or 63 cents a year ago (statement, Techmeme). Revenue for the second quarter was $2.9 billion, down 32 percent from a year ago. Wall Street expected RIM to report a second quarter loss of 46 cents a share on revenue of $2.5 billion.
In other words, RIM CEO Thorsten Heins showed his company can reel in costs, become more efficient and sell BlackBerry 7 devices in emerging markets. Any turnaround talk is highly premature say analysts. Here's a look at the commentary bouncing around Wall Street about RIM.
Read Full Article from ZDNet
- Posted: 2012-09-28 13:55:08
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