RIM (RIMM) Rocks

April 2, 2008 by Douglas A. McIntyre

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

Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE

Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here
you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.


Click here
to match with up to 3 financial pros who would be excited to help you make financial decisions.