Whatever your personal feelings about Jim Cramer, he may have something here following the release of Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) “surprising” earnings report today. Personally, and by no means do I follow his investment advice, I feel that he is one of the people that I would indiscriminately punch in front of a TSA agent just for the fun of it. While that’s neither here nor there, everyone should have a similar list, it allows for perspective and a strict moral understanding that no matter the consequences that person needs a smack. Unfortunately space doesn’t allow for my list in its entirety, but I promise you that someone from Honey Boo-Boo’s family will remain there until she leaves the airwaves.
Thursday’s earnings report “makes it more likely that they will be in business for a long time,” Cramer said on “Squawk on the Street.” “It makes it more likely that a Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) or a Microsoft Corporation (NASDAQ:MSFT) will take a run at them. It’s tough to disagree. Blackberry has seemingly been on the ropes for some time, yet continues to fight back. Most don’t foresee Blackberry ever returning to the market share that they’ve enjoyed in the past, but they hold a number of important patents and remain an entrenched company.
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Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) made a profit of 22 cents per share, down sharply from 80 cents a share in the year-earlier period. Those figures, however, were far ahead of what Wall Street was expecting. Analysts had expected Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) to report a quarterly loss of 29 cents a share on $2.85 billion in revenue, according to a consensus estimate from Thomson Reuters.
“I think that there are people that want this stock down. This company was supposed to have a terrible quarter. This was not a terrible quarter,” he said.
There is something to this statement. One needs only travel outside of the United States to see that Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) is far from dead. A quick trip south to Latin America would give a number of people pause as they see only a large amount of people on the street using their QWERTY keyboards on older devices. Even more surprising to me, is that in Guatemala alone, a country that has not seen the release of phones designed for the Blackberry 10 OS, I have personally seen a number of them.
Take a trip to Indonesia and you will be amazed at Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB)’s presence. People look at people with Android phones as if they are, well, androids.
It is important to mention that at the time of this writing, Cramer’s charitable trust held no position in Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB).