DaMan
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- Joined
- Nov 17, 2003
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- South of Nowhere
<center><a href="http://www.bgr.com/2011/11/21/blackberry-7-sales-stall-playbook-sell-through-remains-sluggish"><img class="size-full wp-image-105027 aligncenter" title="blackberry-bold-9900-playbook" src="http://www-bgr-com.vimg.net/wp-content/uploads/2011/09/blackberry-bold-9900-playbook.jpeg" alt="" width="652" height="422" /></a></center>
Research In Motion’s latest run of BlackBerry smartphones was reportedly well-received early on, with checks from a number of sources having indicated strong upgrade sales for several phone models. Demand has apparently been waning lately however, as <a href="http://www.bgr.com/2011/11/18/blackberry-7-sales-already-seen-slowing-iphone-4s-and-android-are-bad-news-for-rim/">strong competition from the likes of Android and Apple’s iPhone</a> has drawn attention away from sleek new BlackBerry phones like the Bold 9900. Now, more bad news comes from a firm that has historically seen RIM’s glass as being half full while other investment banks were telling their clients to head for the hills. Read on for more.<span id="more-113411"></span>
In a note to investors Monday morning, RBC Capital Markets analyst Mike Abramsky suggested that sales of RIM’s latest devices are slowing. “Despite on-time BlackBerry 7 launches, checks are showing slowing domestic sell-through, plus impacts from recent service outages and PlayBook challenges (delayed software, sluggish sell-through),” Abramsky wrote. His checks mirror the findings of similar checks performed by Canaccord Genuity analyst Mike Walkley <a href="http://www.bgr.com/2011/11/18/blackberry-7-sales-already-seen-slowing-iphone-4s-and-android-are-bad-news-for-rim/">last week</a>.
Abramsky found that sales of BlackBerry 7 handsets remain stronger internationally, where RIM’s devices have fared much better in recent quarters. The analyst says that RIM remains a top-selling vendor in some markets such as the United Kingdom and Indonesia, but its recent massive service outage may have hindered sell-through in key regions like France and Germany. The analyst also notes that Android has gained momentum in Latin America, which is traditionally a key market for RIM.
Unless BlackBerry phones fly off the shelves this coming Black Friday, Abramsky says that RIM may have trouble hitting its third-quarter EPS guidance of between $1.20 and $1.40. Wall Street’s EPS consensus sits at $1.22 for the quarter.
RBC is lowering its fiscal third-quarter revenue estimate to $5.3 billion from $5.4 billion, and it now sees RIM’s earnings coming in at $1.20 per share, down from $1.28. For the full fiscal year, Abramsky now estimates that RIM’s revenue will slide in at $19.8 billion, down from $20.1 billion, and his earnings projections were lowered as well to $4.68 per share. Finally, the analyst lowered his price target for RIM stock to $23 from an earlier target of $29.
<img src="http://feeds.feedburner.com/~r/TheBoyGeniusReport/~4/Bb37ak1l0wo" height="1" width="1"/>
Via BRG - Boy Genius Report
Research In Motion’s latest run of BlackBerry smartphones was reportedly well-received early on, with checks from a number of sources having indicated strong upgrade sales for several phone models. Demand has apparently been waning lately however, as <a href="http://www.bgr.com/2011/11/18/blackberry-7-sales-already-seen-slowing-iphone-4s-and-android-are-bad-news-for-rim/">strong competition from the likes of Android and Apple’s iPhone</a> has drawn attention away from sleek new BlackBerry phones like the Bold 9900. Now, more bad news comes from a firm that has historically seen RIM’s glass as being half full while other investment banks were telling their clients to head for the hills. Read on for more.<span id="more-113411"></span>
In a note to investors Monday morning, RBC Capital Markets analyst Mike Abramsky suggested that sales of RIM’s latest devices are slowing. “Despite on-time BlackBerry 7 launches, checks are showing slowing domestic sell-through, plus impacts from recent service outages and PlayBook challenges (delayed software, sluggish sell-through),” Abramsky wrote. His checks mirror the findings of similar checks performed by Canaccord Genuity analyst Mike Walkley <a href="http://www.bgr.com/2011/11/18/blackberry-7-sales-already-seen-slowing-iphone-4s-and-android-are-bad-news-for-rim/">last week</a>.
Abramsky found that sales of BlackBerry 7 handsets remain stronger internationally, where RIM’s devices have fared much better in recent quarters. The analyst says that RIM remains a top-selling vendor in some markets such as the United Kingdom and Indonesia, but its recent massive service outage may have hindered sell-through in key regions like France and Germany. The analyst also notes that Android has gained momentum in Latin America, which is traditionally a key market for RIM.
Unless BlackBerry phones fly off the shelves this coming Black Friday, Abramsky says that RIM may have trouble hitting its third-quarter EPS guidance of between $1.20 and $1.40. Wall Street’s EPS consensus sits at $1.22 for the quarter.
RBC is lowering its fiscal third-quarter revenue estimate to $5.3 billion from $5.4 billion, and it now sees RIM’s earnings coming in at $1.20 per share, down from $1.28. For the full fiscal year, Abramsky now estimates that RIM’s revenue will slide in at $19.8 billion, down from $20.1 billion, and his earnings projections were lowered as well to $4.68 per share. Finally, the analyst lowered his price target for RIM stock to $23 from an earlier target of $29.
<img src="http://feeds.feedburner.com/~r/TheBoyGeniusReport/~4/Bb37ak1l0wo" height="1" width="1"/>
Via BRG - Boy Genius Report
