SomeHoosierResearch in Motion released its first quarter results today, and... well, they don't look good. The company reported a 33 percent loss of revenue from 2012's $4.2 billion dollar fourth quarter to this $2.8 billion first financial quarter. In Q1's three months ending June 2, the company suffered a $518 million dollar net loss—basically hemorrhaging money.
In the quarter prior, RIM withstood a net loss of $125 million, or 24 cents per share diluted, according to TechCrunch. (Bloomberg reports the company lost 37 cents a share).
Sure, it's no surprise that Blackberry wasn't doing well, but that it tumbled so heavily in just one quarter will surely make it harder for the company to stay afloat (as of this writing RIM was down 17 percent in after-hours trading.) Earlier today, before all this bad news dropped, the Financial Post wrote: “RIM chief executive Thorsten Heins warned of the loss in his May business update. Analysts have since chimed in on just how bad they think it could be. Some estimate a loss as low as a couple of pennies per share, while others believe the loss could be as much as 14 cents per share.” They were sadly off-base.
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Article by Megan Geuss (c) Ars Technica - Read full story here.