Wall Street analysts expecting gloomy figures when RIM reports its results on Thursday
Wall Street analysts are expecting gloomy figures when Research In Motion reports its results on Thursday. Consensus estimates predict a loss of $182m (£112m) compared with a loss of $235m in the second quarter. Sales are expected to slide to $2.7bn from $2.9bn.
The focus of RIM’s shareholders will be on whether the company is still on track to launch its new BlackBerry 10 phone on January 30.
Last month’s announcement of the January launch date for the much-delayed device helped fuel a rally that has seen RIM shares more than double since reaching a record low of $6.30 in late September.
Signs that big American phone companies such as Verizon and AT&T, as well as the developers of applications that run on the devices, will welcome the BlackBerry 10 have created the first flicker of optimism among RIM investors in four years.
“The message that the company sends out at these quarterly results will be the most important in the last few years,” said Vic Albioni, chairman of Jaguar Financial, a RIM shareholder who has pushed for change at the company. “There is now some guarded optimism.”
Although RIM’s sales have been growing in emerging economies such as Indonesia and South Africa, the company has also been losing market share in Britain and other major western markets.
Analysts say the shares have also been boosted as the rally has forced investors who were betting against RIM to unwind their positions.