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Strong Guidance Powers Research In Motion

By cnbc.com staff
Thursday, 21 Dec 2006 | 5:06 PM ET

Research In Motion (RIM) jumped as much as 6% in after hours trading, after the tech company reported strong subscriber growth in the third quarter and offered revenue guidance well above analysts' expectations.

Revenue for the third quarter rose 27% to $835.1 million, slightly above estimates of $816 million. Earnings came in at 93 cents a share, a penny below Thomson Financial's consensus estimate, versus 61 cents a share in the year-ago period.

"These are awesome numbers," said Peter Misek, Senior Technology Analyst at Canaccord Adams on CNBC's "Closing Bell." Misek called RIM's revenue guidance "blockbuster."

RIM says it expects fourth-quarter revenue of $900 million to $940 million. Ahead of the earnings report, analysts were forecasting just $861 million in revenue.

RIM also said it expects 950,000 to 975,000 subscriber account additions in the fourth quarter.

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