JP Morgan: RIM profits cut again despite BlackBerry Storm

Research in Motion (RIM) have undergone another cut in its financial estimations by JP Morgan, this cut comes after RIM cut their own Q3 2009 estimations last week, this comes despite the launch of the BlackBerry Storm and BlackBerry Bold.

JP Morgan have said in the estimate RIM’s earnings per share are expected to be $0.81 on sales of $2.75 billion, JP Morgan have also said that they expect Research in Motion to sell around 6.8 million units in the first quarter of 2009, putting the average sale price at $332 and 2.6 million net subscriber additions.

JP Morgan has also cut back the estimates on Research in Motion Ltd. (RIMM) due to the warning the BlackBerry Manufacturer gave over the thirds quarter profits.

Source: BlackBerryCool

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