In the after market shares of RIM fell as much as 7% after the BlackBerry maker reported a profit that fell just shy of Wall Street expectations, despite a growing subscriber base and rising phone shipments.
RIM said it earned $1.27 a share in its fiscal fourth quarter, excluding one-time items, compared with a profit of 90 cents a share last year.
Sales for the most recent quarter hit $4.1 billion, up from $3.463 billion this time last year.
Of particular note, RIM says it added nearly 5 million net subscriber accounts in the quarter, bringing the total to more than 41 million.
Strategy Session with the Fast Money traders
With RIM near $70 I think the stock is a buy, says Pete Najarian. I think the company has a great deal of potential going forward especially in emerging markets.
If the stock pulls back to $67.50 on big volume on Thursday, I would also be a buyer, echoes Guy Adami. Just close your eyes and dive in.
Historically, the best way to play RIM post earnings has been to fade it, he explains on the Halftime Report. If it collapses, be a buyer -- and if it rips, put on a bearish position.
I want to know how they plan to grow, says Tim Seymour. It seems to me America and Europe are pretty well saturated. But I’d keep going long in this name. There's great potential in EM.