RIM warns Q1 earnings to be lower than expected

Smartphone shipments will be at the lower end of expectations, RIM said

Research In Motion warned that its first-quarter smartphone shipments are likely to be lower than expected, cutting its earnings forecast for the quarter.

In March, RIM forecast earnings per share for the quarter ending May 28 in the range of US$1.47 to $1.55. It now expects earnings of $1.30 to $1.37.

The change is due to smartphone shipments that are now expected to be on the lower end of the 13.5 million to 14.5 million units that RIM thought it would sell, as well as a shift in sales toward low-end models.

The company now expects revenue to fall slightly below the range of $5.2 billion to $5.6 billion that it had predicted earlier.

RIM said shipments of the PlayBook, its first tablet, should be in line with its expectations. RIM has not quantified how many tablets it has sold or expects to sell.

The company will release its first-quarter earnings results on June 16.

RIM has been struggling to keep pace with newer smartphones such as the iPhone and those running Android, which have begun to chip away at RIM's dominance of the enterprise market.

In after-hours trading late on Thursday, the company's shares (Nasdaq: RIMM) were down $6.38 at $50.11.

Nancy Gohring covers mobile phones and cloud computing for The IDG News Service. Follow Nancy on Twitter at @idgnancy. Nancy's e-mail address is Nancy_Gohring@idg.com

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issuesresearch in motionconsumer electronicssmartphonesPhonesfinancial results

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Nancy Gohring

IDG News Service
Show Comments

Cool Tech

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Breitling Superocean Heritage Chronographe 44

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?