RIM cuts Q1 earnings and revenue forecast

By @ibtimes on

Research In Motion cuts its earnings outlook for the current quarter on Thursday, saying it expects to ship fewer BlackBerry smartphones but maintained its robust full-year guidance.

RIM said it expects diluted earnings of between $1.30 and $1.37 a share for the period to the end of May, down from the $1.47-$1.55 range it forecast in late March.

This shortfall is primarily due to shipment volumes of BlackBerry smartphones that are now expected to be at the lower end of the range of 13.5-14.5 million forecast in March and a shift in the expected mix of devices shipped toward handsets with lower average selling prices, the company said in a statement.

(Reporting by Alastair Sharp; editing by Rob Wilson)

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