Research In Motion posted its third-quarter earnings data on Thursday, reporting a 71 percent drop in net income and revealing that its long-awaited next-generation smartphone platform will arrive later than expected. The company reported revenue of $5.2 billion, up 24 percent from last quarter but still under Wall Street expectations. It also disappointed the street with its fourth-quarter projections: earnings of 80 to 95 cents per share and revenue between $4.6 billion and $4.9 billion.
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RIM Hunkers Down for Long, Cold Summer
Posted by: Rachelle Dragani December 16, 2011 10:57 AMResearch In Motion posted its third-quarter earnings data on Thursday, reporting a 71 percent drop in net income and revealing that its long-awaited next-generation smartphone platform will arrive later than expected. The company reported revenue of $5.2 billion, up 24 percent from last quarter but still under Wall Street expectations. It also disappointed the street with its fourth-quarter projections: earnings of 80 to 95 cents per share and revenue between $4.6 billion and $4.9 billion.