Thought Apple’s red-hot iPhone or the soft big-business IT spending Cisco reported would burn RIM’s March quarter? Wrong! The company said today it will crush its fiscal Q4 BlackBerry subscriber growth numbers, and reiterated its financial guidance.
Research In Motion (RIMM) said it expects March quarter net subscriber additions to come in between 2.1 million and 2.2 million subs, 15% to 20% more than the 1.8 million subs it forecast in late December.
“BlackBerry smartphones proved to be a big hit throughout the holiday selling season and we’re pleased to see RIM’s business momentum continuing in the new year,” said Jim Balsillie, Co-CEO at RIM, in a statement. “The seasonal slowdown in net subscriber account additions that we expected in the new year did not occur and our focused execution with partners has continued to produce strong results within both enterprise and consumer segments.”
The company is sticking with its Q4 revenue forecast of $1.80 billiion to $1.87 billion, and its EPS guidance of 66 cents to 70 cents per diluted share.
“With this positive preannouncement we see potential for sales/EPS upside when the company reports on April 2nd,” Citi analyst Jim Suva said in a note this morning. The Street consensus for RIM’s Q4 is $1.85 billion of revenue and 69 cents EPS.
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