Lackluster Forecasts, Declining Revenue, And Imminent Layoffs: A Rough Quarter For RIM

Just because things are expected, doesn't mean they don't hurt. This is the case for Research In Motion (RIM), which has been steadily slashing expectations over sales and earnings for the first quarter, released its report today. And it doesn't look good. Net income for the first quarter was a low $695 million, or $1.33 per diluted share, compared with net income of $934 million, $1.78 per diluted share in the fourth quarter of last year -- down 26 percent. Revenues came in at $4.9 billion, down from $5.6 billion in the fourth quarter, or a 12.5 percent drop.

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