Enter multiple symbols separated by commas

Strong Guidance Powers Research In Motion

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.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Tech bubble will end badly: Red Hat CEO

    Jim Whitehurst, Red Hat CEO, and "Open Organization" author, discusses why he thinks cheap money is producing a tech bubble; the transition into the cloud, and how to inspire passion and performance in the workplace.

  • This Day in History, May 27

    On this day in history, in 1937 the Golden Gate Bridge opens; "The Arsenio Hall Show" broadcast its final show in 1994, and in 2014 Google unveils a self-driving car.

  • Markets eye Fed rate hike

    Kevin Holt, Invesco CIO, and Steven Wieting, Citi Private Bank, discuss how an increase in interest rates will likely impact the markets, and where investors can find value.