Research In Motion Limited USA NASDAQ:RIMM" rel="nofollow">(NASDAQ:RIMM) announced its earnings for Q4 2011 today. The numbers showed an earnings per share of $0.80. The company's revenue for the quarter was $4.19 billion. Morgan Stanley (NYSE:MS) had upgraded its outlook for the company recently though it said challenges ahead, particularly in Q1 2012, would be much more difficult than anything faced this year. That analysis had the company earning $0.82 per share. Revenue from Q3 was $5.2 billion while 14.1 million Blackberrys were shipped. RIM finished up today at 13.73. The news was delayed by some time after the market closed this afternoon.
The company is hoping to revitalize its fortunes after disappointing results recently. The company has tried to restructure itself in order to compete in the modern smart phone market. The company has faced severe delays in the development of its new operating system Blackberry 10. The company hopes the new product and development platform will get them off the sidelines in the consumer electronics market. The company is hoping that its new system, expected later this year, will finally allow them to break in to the main stream market, one they sacrificed when it was opened up by Apple with the iPhone. Prem Watsa became a member of the board last year and said that he hopes to rescue the company.
News broke recently that the company was planning to hire an iOS developer in order to help their flailing business. The speculation suggested the company was planning to introduce its blackberry management system to iOS devices. The company is trying several different things at the moment, showing that they do know something is wrong. Their problem as shown by today's statement is going in the right direction. They are coming from such a behind position it will be difficult to regain their formerly dominant market share and impress their investors.
Pressure has mounted on the firm in recent times as it is seen to have fallen behind drastically in the smart phone market. The company had to get rid of its two CEOs last year and are in the middle of what they hope will be a reinvention. The company slashed the prices of its products in India yesterday, speculation being that demand on the subcontinent, an important market for the company, had fallen below a level that was properly taking care of inventories. The problems suggested by that exchange lead analysts to believe hard times are coming for the Canadian company. An unusual jump in after hours trading had caused the company's stock to be halted. Trading was resumed minutes later.
Today's results show the real troubles the company finds itself in. A real change in fortunes is needed to save the firm.