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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of BlackBerry maker Research In Motion (Nasdaq: RIMM ) popped today by as much as 15% after the company reported better-than-expected earnings last night.
So what: Revenue fell 31% to $2.9 billion, which resulted in an adjusted net loss of $142 million, or $0.27 per share. As lousy as that sounds, the figures managed to beat analyst estimates, which were looking for just $2.5 billion in sales and a loss of $0.46 per share. The Canadian company shipped 7.4 million BlackBerry smartphones and 130,000 PlayBook tablets.
Now what: BlackBerry subscribers have reached an all-time high of 80 million, and RIM was able to increase its cash position to $2.3 billion and assuage investor fears about its cash-burn rate. The company has already stopped providing specific financial guidance but expects next quarter to be tough as well. Everything continues to ride on the success or failure of its next-generation platform, BlackBerry 10, which remains on track for release in early 2013.
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