Pretty impressive forecast change made by RIM today. The have upped their previous forecast by 15–20%. I am enjoying what the information has been doing to my stock portfolio.
Read the release below:
WATERLOO, ONTARIO–(Marketwire – Feb. 21, 2008) – Research In Motion Limited (RIM) (NASDAQ:RIMM)(TSX:RIM) today provided an update on forecasted net subscriber account additions for the fiscal fourth quarter ending March 1, 2008.
RIM now expects net subscriber account additions for Q4 to be approximately 15-20% higher than the 1.82 million net subscriber account additions forecasted by RIM on December 20, 2007. The total BlackBerry(R) subscriber account base is expected to be approximately 14 million at the end of the quarter.
“BlackBerry smartphones proved to be a big hit throughout the holiday selling season and we’re pleased to see RIM’s business momentum continuing in the new year,” said Jim Balsillie, Co-CEO at RIM. “The seasonal slowdown in net subscriber account additions that we expected in the new year did not occur and our focused execution with partners has continued to produce strong results within both enterprise and consumer segments.”
RIM continues to expect Q4 revenue and earnings per share to be within the ranges previously forecast in December. Revenue for the fourth quarter is expected to be in the range of $1.80 – $1.87 billion. Earnings per share for the fourth quarter are expected to be in the range of $0.66 – $0.70 per share diluted.
The number of net subscriber accounts and net subscriber account additions is a non-financial metric and should not be relied upon as an indicator of RIM’s financial performance. The number of net subscriber accounts and net subscriber account additions does not have any standardized meaning prescribed by U.S. GAAP and may not be comparable to similar metrics presented by other companies.
RIM will report actual Q4 financial results, including actual net subscriber account additions, and hold its quarterly and year end results conference call, on April 2, 2008.