RIM and Oracle beat Street, RIM raises guidance


Source: CNNMoney

Oracle and Research in Motion announced their past-quarter financial results Thursday after the bell, and both beat Wall Street analysts’ estimates for earnings and revenue.

RIM: Don’t count RIM out just yet. The BlackBerry maker has been beaten down by investors this year, but the company raised its outlook for the current quarter and for 2011.

Shares of RIM initially spiked then fell (Paul: “Investors realized they’re still not Apple or Android”), then rose 4% again after hours. 

RIM posted record BlackBerry shipments in the quarter, sending 14.2 million devices to wireless carriers, up 40% over last year.

Sales were up 19% and profits were up 45%.

Oracle: The enterprise software giant said its fiscal second-quarter net income rose to $1.9 billion, up 28% from a year earlier. Excluding one-time charges, Oracle said it earned 51 cents per share, compared to a median estimate of 46 cents per share from analysts polled by Thomson Reuters.

Sales rose 47% to $8.6 billion, topping analysts’ forecasts of $8.3 billion.

The biggest boost to the strong results were software licenses, which soared 21%.

Shares of Oracle, which have soared since former HP CEO Mark Hurd was named president of the company in August, rose 3% after hours. -David

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