Research in Motion (RIMM) Blows Quarter, Stock Tanks

The Street thought RIM’s Q1 was an easy layup, but the BlackBerry maker missed both revenue and EPS estimates, and issued mixed guidance for Q2.

More to come, including live coverage of the earnings call at 5 p.m. ET. Please see Silicon Alley Insider for the latest.

Key Q1 metrics:

Revenue: $2.24 billion, up 107% y/y but short of $2.27 billion consensus
EPS: $0.84, a penny short of $0.85 consensus
Net subscriber additions: 2.3 million, even with 2.3 million estimate (Lehman)
Phones shipped: 5.4 million, below 5.5 million estimate (Citi)

Q2 guidance:

Revenue: $2.55-2.65 billion, above $2.44 billion consensus, $2.5 billion (Citi)
EPS: $0.84-$0.89, below $0.90 consensus, $0.94 (Citi)
Net subscriber additions: 2.6 million, below 2.8 million estimate (Citi)

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