There's a quote in one of Peter Lynch's books that goes something like "it's always darkest before pitch-black." Personally, I like to harken back to the quote that the light at the end of the tunnel is often an oncoming train. Take whatever snarky, pessimistic quote you prefer; Research In Motion (Nasdaq:RIMM) certainly deserves it. An arrogant and mis-run company is now paying the price for its mistakes and shareholders are looking at not only a long road back, but a road that may well lead to nowhere.
Third Quarter as Expected, But ...
Research In Motion had previously alerted the Street to most of the salient details about this quarter, so the financial performance was not all that surprising, but it was still unpleasant to behold. Revenue fell 6% from last year, on a 1% shipment decline in smartphones. As it stands now, it looks like RIMM's smartphone market share has fallen apart 10%.
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