Investing
Sterne Agee Lowers Estimates on Research in Motion (RIMM, AAPL, GOOG, MSFT)
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Investment firm Sterne Agee has lowered its estimates on Research in Motion Ltd. (NASDAQ: RIMM) while maintaining its ‘neutral’ rating on the company. Sterne Agee noted in its report that RIM’s “Blackberry continues to lose momentum to both iOS and Android and Windows Phone appears to be gaining some traction.” iOS is the iPhone operating system from Apple Inc. (NASDAQ: AAPL), Android is the mobile operating system from Google Inc. (NASDAQ: GOOG), and Windows Phone is the mobile operating system from Microsoft Corp. (NASDAQ: MSFT).
The investment firm has lowered its quarterly estimate of BlackBerry shipments from 11.9 million to 11.3 million, and the revenue and EPS estimates from $4.7 billion and $0.95, respectively, to $4.55 billion and $0.86. For the full 2012 fiscal year, the revenue estimate has been lowered from $19 billion to $18.8 billion and the EPS estimate has been lowered from $4.35 to $4.25. For fiscal year 2013, the revenue estimate has been lowered from $19.5 billion to $17.9 billion and the EPS estimate has been lowered from $3.70 to $3.00.
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