RIMM rocks!

Posted Dec 20th 2007 7:07PM by Aaron Katsman
Filed under: After the Bell, Earnings Reports, Research in Motion (RIMM), Oracle Corp (ORCL), Technology, Israel

Research in Motion Limited (NASDAQ: RIMM) is surging after-hours after reporting a great quarter and lifting their outlook. In their report, for the quarter ended Dec. 1, Canada-based RIM earned $370.5 million (euro258.21 million), or 65 cents per share, compared with $175.2 million (euro122.1 million), or 31 cents per share, in the same quarter last year.

The company's revenue rose year over year to $1.67 billion (euro1.16 billion) from $835.1 million (euro581.99 million).

Analysts polled by Thomson Financial expected earnings of 62 cents per share on $1.65 billion (euro1.15 billion) in revenue.

What is so impressive is that they are selling BlackBerry's like they are going out of style. The company said that about 1.65 million BlackBerry subscriber accounts were added during the quarter and more than 3.9 million handsets were shipped. That is a huge number.

Along with today's Oracle Corporation (NASDAQ: ORCL) numbers, this is just what we needed to get that Santa Claus rally we have been all wishing for.

What's more is that the company raised guidance. Clearly the holiday shopping season is very strong for them. For those of you who still don't have a BlackBerry, don't be surprised to find one tucked away in that hanging stocking.

Tags: blackberry, holiday shopping, HolidayShopping, inthenews, oracle, research in motion, ResearchInMotion, RIMM