RIMM was down 4.92% today, to 72.78, but it would be good idea to keep a tab on it since it looks like a solid company.
BlackBerry maker Research In Motion (RIMM 72.78) topped the consensus earnings estimate in its first quarter and issued in-line guidance for the second quarter.
Research In Motion reported first quarter earnings of $0.98 per share, excluding nonrecurring items, $0.04 better than the First Call consensus of $0.94.
Revenues rose 52.7% year-over-year to $3.42 billion, in-line with the $3.43 billion consensus. Gross margins of 43.6% were also in-line with the 43.3% consensus.
The company added approximately 3.8 million net subscribers in the quarter and has a total subscriber account base of approximately 28.5 million.
Looking ahead, Research In Motion projects second quarter earnings of $0.94 to $1.03 per share; the consensus expects $0.97. The company projects second quarter revenues between $3.45 billion and $3.70 billion; the consensus stands at $3.61 billion.
Gross margins for the second quarter are projected between 43% and 44% and the company expects net subscriber additions between 3.8 million and 4.1 million.
Shares of RIMM are up more than 88% year-to-date but are currently valued at less than half of the 52-week high of $148.13.
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