What Happened? RIM's Service fees were up year over year from $965M (q3 2012) to $974M (Q3 2013),
so why this caused RIM s/p to drop over 23% today?
Luckily RIM Revenue & earnings beat expectation and the cash position was up $600M.
ot the s/p might have been lots more devastated
The Market was looking for any excuse to tumble RIM's stock price.
It was option expiry day, and the Big Boys had to ensure they kept both their shares
and their cover calls premiums.
Heins was clear on RIM's position on service Revenue re conference call
" Service revenues are not going away, but our business model and service offerings is going to evolve. Our vision is to position BlackBerry as the clear leader in the enterprise mobility market. While the mix and level of service fees revenue will change going forward and will be under pressure over the next year during this transition, but we are targeting to grow service revenue in smartphones, tablets and embedded application to a new offering with new partners and across platforms other than BlackBerry 10"
RIM Q3 was great, but the Banksters and the other Gangsters were going to find any excuse
to bring the S/P down