Blackberry-maker Research In Motion (RIMM) reported earnings after the bell yesterday and the results were pretty good. Sales jumped 53% and earnings-per-share rose 33% to $1.12. The number of new subscribers rose by 65%.
That’s the good news. The bad news is that RIMM’s guidance for this quarter was below what analysts were expecting. The company sees Q2 earnings coming in between 94 cents and $1.03 a share on sales ranging from $3.45 billion to $3.7 billion. The Street was expecting 98 cents per share and sales of $3.61 billion.
I’ve liked Research In Motion in the past, but this isn’t a good time to add the stock to your portfolio. Let’s wait until the future is more positive. I rate shares of RIMM a Hold.