I guess the slowdown does not affect the amount of Blackberrys sold by RIMM. I think this is the reason why they are up 5 points in the after hours:
In the first quarter RIM expects revenue to range from $2.23 billion to $2.3 billion and earnings to range of to 82 cents to 86 cents a share.
Analysts expect revenue of $2 billion and EPS of 75 cents in the quarter.
The classic blow the numbers out then guide way higher one-two punch. I think you might see a rally in tech tomorrow since Best Buy also did pretty well. I thought consumer spending was dead? I guess all of those Blueray DVDs, video games, and digital gadgets are more recession proof then you might think.
The company says it expects a solid second half to pull fiscal 2009 same-store sales up 1% to 3%, with overall revenue, including new stores, rising as much as 10% to $44 billion.
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