RIM (RIMM) Rocks

Print Email

Research In Motion (NASDAQ: RIMM) was up 5% after hours. That says it all, but some may want details.

RIMM released earnings today after the close and the PDA/Smartphone maker of Blackberry phones reported first quarter EPS of $0.72 on revenues of  $1.88 billion. First Call had estimates of $0.70 EPS on $1.86 billion in revenues.

RIM shipped 4.4 million smartphones in the fourth quarter and approximately 14 million smartphones during fiscal 2008..

Shares closed at $115.79 and are trading $122.15  in after-hours trading.

We had noted in our preview that options traders were pricing in a move of up to $9.50 in either direction.  Research In Motion’s 52-week trading range is $42.93 to $137.01

The news is an indiation that "small ball" tech is still doing well. Gadgets and gizmos like smartphones and video consoles still appear to be selling well. Since no one has money for gas, they can stay home and play games or talk on the phone.

The impressive number of Blackberry units shipped should also bode well fo the Apple (NASDAQ: AAPL) iPhone sales this quarter.

Douglas A, McIntyre