Research in Motion (RIMM), a Blackberry maker, announced a hugely successful fiscal fourth quarter. The company’s quarter ended on March 1. Earning for the quarter were $412.5 million, which equals 72 cents per share. The profit more than doubled from $187.4 million and 33 cents per share during last year’s fourth quarter. Stock trading intensified after hours for the stock, following the announcement.
Revenue also jumped incredibly, from $930 million to $1.88 billion. The company indicated it had no concerns of a slowdown that has affected some other technology companies. The 72 cents per share earnings topped analyst estimates by 2 cents. This is always exciting to the stock investing community. Many traders immediately beginning added the stock to their personal stock portfolio.
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The company credits increased consumer interest in Blackberries for much of the growth. Many mobile customers are looking more to the Research in Motion technology as opposed to Razr phones or iPhones. The company really gave its stock help by announcing expected first quarter earnings per share of 82 to 86 cents per share. The strong outlook was especially inspiring. Covered call investing and covered call strategies are likely not going to be popular stock trading strategies in light of the promising future for the company.
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After a down regular trading day, Research in Motion saw a nearly 5% increase in its share price after hours. This pushed its trading price over $121. With a one year price target of over $137, the company still seems to have strong potential for upward price movement. This opportunity for capital gains is a great fit for a long-term stock trading strategy.
The positive outlook from Research in Motion was not only good for its stock, but it also is a positive sign that could give the entire stock market help. Many stock picks from the typical stock selection guide have left out technology stocks, based on the generally negative near-term outlook for the industry. Technology growth is expected to develop somewhat in line with the US economic turnaround. People tend to spend more money on technology-driven discretionary items when they are confident in the economy.
With Federal Reserve Chairman Ben Bernanke suggesting we could be in the midst of a potential recession, Research in Motion’s performance is especially impressive. It definitely seems as though mobile technology customers are looking to Blackberries for their mobile needs.
The economy is expected to possibly be on the upswing in the latter part of 2008. This bodes well for the company. A big advantage for Research in Motion is that it has a solid global presence. Like many other international companies, it is much better positioned to handle the US economic situation. This really emphasizes the benefit of a diversified customer base to a company’s long-term success.
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