PDAStreet: News: RIM Ups Fourth Quarter Estimates Significantly

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PDAStreet.com > News > RIM Ups Fourth Quarter Estimates Significantly

RIM Ups Fourth Quarter Estimates Significantly

By James Alan Miller
February 22, 2008

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Research In Motion (RIM) raised its subscriber forecasts for its fourth fiscal quarter, which ends on March 1st, significantly this week. The company won't make its official earnings announcement for the quarter until April 2nd.

So instead of the 1.82 RIM predicted in back in December, the company now expects to report the addition of 2.09 to 2.18 million new subscribers this week. That's 15 to 20 percent new BlackBerry mob-e-mail users joining the BlackBerry brigade than originally expected.

Should the new estimate turn out to be accurate, then RIM should end the quarter with around 14 million BlackBerry subscribers.

Not surprisingly, the new estimates sent RIM's stock value up by close to 9 percent to $106.69 yesterday.