RIM Tumbles as Sales Shortfall Signals Apple Extending Lead
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Research In Motion Ltd. plunged the most in 11 weeks after saying revenue missed its forecast last quarter amid accelerating market-share losses for BlackBerry smartphones and PlayBook tablets to Apple Inc.
Third-quarter revenue was “slightly lower” than the $5.3 billion to $5.6 billion the company had projected and earnings were “at the low to mid point” of its forecast, according to an unscheduled statement from Waterloo, Ontario-based RIM today. RIM said it doesn’t expect to meet its full-year profit target.