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RIMM Crushing The Competition, Says Analyst

BlackBerry-maker Research In Motion issued quarterly earnings results, today after the bell. CNBC’s Jim Goldman sorted through the numbers and Peter Misek, Senior Technology Analyst at Canaccord Adams had the instant analysis.

RIMM reported earnings per share at $.93. (The street was looking for $.94). Revenue, they said, was $835 million beating the $815 million estimate. And new subscribers jumped to 875,000 also beating estimates

Peter Misek, Senior Technology Analyst at Canaccord Adams said “These are awesome numbers,” (there’s tax to add back to the eps making it a stronger number than it appears).

Misek then added, “The sub-guidance is blockbuster – well above anybody’s expectations.”

"Total Blackberry subscriber base is at 7 million. By the end of next year RIMM could approach 14 million – well above expectations. They’re absolutely crushing the competition.”

RIMM shares were up 4% in after hours trading. Peter Misek said they should be up even more.


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