Earnings Breakdown
Net income for the quarter jumped 120% to $412.5 million, or 72 cents a share, compared with net income of $187.4 million, or 33 cents a share in the same quarter last year.
Given the recent misses with so many tech earnings, I think the Street will still be happy with this
despite the EPS.
Revenue for the quarter rose 102% to $1.88 billion from $930.39 million a year ago.
Come on folks, given the current economic landscape, Balsillie needs to be given props.
They could have pulled a Cisco but they didn't.
The revenue breakdown for the quarter was approximately 81% for handhelds, 14% for service, 3% for software and 2% for other revenue.
Approximately 4.4 million BlackBerry subscriber accounts were added in the quarter.
About 14 million devices were shipped during fiscal year in line with its subscriber account base forecast from February.
According to Balsillie, about 38% of the subscriber account base and more than half of net new subscribers in the last quarter were non-business users.
This confirms the integration into our social fabric as I mentioned in my previous post
RIM Q1 expects revenue to range from $2.23 billion to $2.3 billion and earnings to range of to 82 cents to 86 cents a share.
Analysts expect revenue of $2 billion and EPS of 75 cents in the quarter.
Net subscriber account additions in the first quarter are expected to be approximately 2.2 million.
Decoding Cramer
JC is up to his old tricks again and he lost what little cred he had left on the Street after the BSC debacle. An interesting thing happens to anyone who works on the Street long enough. They become DUPLICITOUS because the nature of this game is steeped in duality. In today's RealMoney article Jim advises that the post runup for RIM may not have legs and advises folks to sell "midday" Thursday. This makes sense since Goldman Sachs could pickup those shares before the REAL rampup occurs. I smell a shakedown in the AM that may scare weak hands to sell. Just in time for GS to take that "midday" baton and run with it. Remember folks, RIMM is the most manipulated stock on the Nasdaq. Anyone seriously trading this must be willing to swim with the sharks OR get a chunk taken out. Is it any wonder this man walks Manhattan in a bullet-proof vest?...betcha didn't now that did ya?
I AM STICKING TO MY TARGET OF 130 AND HAVE COME TOO FAR IN THIS TRADE TO EVEN THINK ABOUT SCALING OUT BEFORE 125 PRINTS.
Happy Trading,
Cash Mancini
Quote of the Day
"A speculator is a man who observes the future, and acts before it occurs" - Bernard Baruch
Video of the Day
Time to Soar
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