RIM Shipped Just 200,000 PlayBooks Last Quarter

RIM announced its Q2 earnings yesterday falling short of analyst expectations.

SAI Highlights:
● EPS was $0.80 versus expectations of $0.88
● Revenue was $4.2 billion versus estimates of $4.5 billion
● It shipped 10.6 million BlackBerrys versus expectations of 11.9 million units
● RIM shipped 200,000 PlayBooks versus expectations of 400,000-600,000
● RIM's cash was wiped out: It went to $1.4 billion at the end of the quarter compared from $2.9 billion in the quarter before. It spent $780 million on the Nortel patents, and had $285 million in capital expenditures.
● Q3 revenue outlook is $5.3-$5.6 billion which is above the street's expectation (via RBC) of $5.3 billion.

To make matters worse, the number of PlayBooks shipped is not the number sold. RIM is betting on its next generation platform QNX to save the sinking ship; however, they were unable to provide any clarity on when QNX would available on its mobile phones.


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