Research in Motion stock plunges on weak sales
The company's shares were down $5.57 to $23.97 on the Nasdaq stock exchange at about 1400 GMT.
The Waterloo, Ontario-based RIM said late Thursday that net profit fell to $329 million, or 63 cents per share, in its fiscal second quarter from $797 million, or $1.46 per share, in the same quarter a year ago.
Revenue declined to $4.2 billion in the quarter which ended on August 27 from $4.6 billion a year ago.
RIM, which is facing stiff competition from Apple's iPhone and handsets running Google's Android software, said it shipped 10.6 million BlackBerry smartphones during the quarter and 200,000 PlayBooks, RIM's rival to the iPad.
Analysts had expected BlackBerry shipments of 11.9 million units and 700,000 PlayBooks.
Source: AFP
Source: I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
