Is there light at the end of the tunnel?
BlackBerry maker RIM is expected to reveal yet another round of losses when it returns third quarter results on Thursday [20th December 2012], casting a shadow over next month’s crucial product launches.
Wall Street analysts are expecting a loss of $182 million (£112 million) compared with a loss of $235 million in Q2. Sales are expected to slide to $2.7 billion from $2.9 billion.
Meanwhile investor focus remains on whether the Canadian manufacturer is still on track to launch its new BlackBerry 10 phone at the end of next month in a product launch that could make or break it.
In recent weeks RIM’s shares have rallied in the hope it has turned the corner, having reached a low of $6.30 in late September.
“The message that RIM sends out at these quarterly results will be the most important in the last few years,” commented Vic Albioni, chairman of US fund manager Jaguar Financial, which in the past has pushed for change at the company. He added: “There is now some guarded optimism.”
* In a further blow to its reputation, RIM is to be removed from Nasdaq’s index of the top 100 companies as part of an annual revision process.