RIM cuts Q1 earnings and revenue forecast

Reuters

TORONTO (Reuters) - Research In Motion cuts its earnings outlook for the current quarter on Thursday, saying it expects to ship fewer BlackBerry smartphones but maintained its robust full-year guidance.

RIM said it expects diluted earnings of between $1.30 and $1.37 a share for the period to the end of May, down from the $1.47-$1.55 range it forecast in late March.

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"This shortfall is primarily due to shipment volumes of BlackBerry smartphones that are now expected to be at the lower end of the range of 13.5-14.5 million forecast in March and a shift in the expected mix of devices shipped toward handsets with lower average selling prices," the company said in a statement.

(Reporting by Alastair Sharp; editing by Rob Wilson)

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