Thursday, April 28, 2011

RIM slashes short-term sales forecast

Seriously - who didn't predict this? As a former Blackberry user, turned Android, the writing has been on the wall a LONG time.

BlackBerry maker Research In Motion slashes short-term sales forecast - WDAF: "NEW YORK (AP) — Research In Motion Ltd., the maker of the BlackBerry, on Thursday cut its sales and earnings forecasts for the current quarter, saying it's shipping fewer and cheaper phones than it had expected.

The stock was down $5.09, or 9 percent, to $51.50 in extended trading.

It's the second hit for the stock in just over a month. When reporting earnings for the previous quarter on March 24, the Waterloo, Ontario, company disappointed investors by saying it expects earnings of $1.47 to $1.55 per share for the current quarter, below analyst expectations at the time."

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