RIM Sales Miss Expectations On Disappointing Shipments; Plans Buyback

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Research In Motion, the makers of the Blackberry, reported first quarter sales today that missed analyst expectations, amid evidence that the increased competition in the smartphone sector was taking its toll.

Revenues increased 24 percent to $4.24 billion; analyst forecasts had predicted $4.35 billion. Net income rose 20 percent to $768.9 million, or $1.38 a share, from $643 million, or $1.12, a year earlier. EPS did manage to beat expectations

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