RIM, Palm Release Earnings Data, Sony Ericsson Lowers Expectations

On Wednesday Research In Motion announced that it had doubled its Q1 revenue figures from those of Q1 for the prior year. However, due to the company not meeting the Wall Street consensus on earnings, on top of some less than optimistic forecasts for the future, the company's stock actually dipped over $20 during active trading on Thursday and Friday. Palm's week went no better, even though the company boasted of a 29% gain in the sale of its smartphones vs. the same quarter in the prior year. The fact that it posted a loss of $43.4 million for the quarter meant it lost over 40 cents per share vs. the 15 cents per share it earned a year ago on fewer unit sales. Palm stock dropped 51 cents on Friday from its Thursday close of $6.51. Sony Ericsson has warned Wall Street that it is seeing a slowing in cell phone sales and that it expects to see a decline in profit margins year over year and compared to Q1 figures.