As some investors had feared,
Research In Motion this afternoon
reported worse-than-expected results for its fiscal first quarter ended June 2, as demand for the company’s BlackBerry smartphones continues to crumble.
The company reported revenue of $2.8 billion, down 33% from a year ago, and below the Street consensus at $3.11 billion. The company posted an adjusted loss of 37 cents a share; the Street had expected the company to lose just a penny a share. On a GAAP basis, RIM lost $518 million, or 99 cents a share.
Trading in RIMM shares was halted ahead of the earnings report. In today’s regular session, the stock slipped 5 cents, or 0.5%, to $9.13.