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Showing posts with label strong dollar. Show all posts
Showing posts with label strong dollar. Show all posts

Wednesday, December 3, 2008

Research in Motion (Black Berry) lowers 3rd quarter outlook.

SAN FRANCISCO (AP) -- BlackBerry maker Research in Motion Ltd. on Tuesday lowered its forecast for its third-quarter revenue and earnings per share, citing the impact of the strong dollar and the weak U.S. economy.
The Waterloo, Ontario-based company said it now expects its adjusted earnings per share to be in a range between 81 cents and 83 cents for the quarter that ended Nov. 29. That's down from its initial forecast of between 89 cents and 97 cents per share.
Analysts had been expecting, on average, 91 cents per share, according to a survey by Thomson Reuters.
The lowered forecast was "primarily due to the lower-than-estimated revenue and the unfavorable impact of the strengthening U.S. dollar during the quarter," RIM said