While many, including us, have questioned the future buoyancy of Research In Motion in the smartphone market, the company might have a feather in its cap with the new BlackBerry Torch, despite mediocre reviews.
Analyst Tim Long at BMO Capital Markets reports strong sales of the Torch. He says that should help RIM meet of even beat expectations on Wall Street for its fiscal Q2. Long made the comments in a note to investors. Also driving RIM’s financials is solid growth internationally.
This would be good news for a company that’s seen its stock price drop a whopping 30 percent since Jan. 1, in an economic climate where many tech and telecom companies are starting to a slight uptick, or are at least staying even.
RIM’s fiscal Q2 ends on Aug. 31. Expect to see the company’s numbers released in mid-September. RIM stock was up a little more than 1 percent as of 2:38 p.m. ET Wednesday.
And apparently Paris Hilton has a Torch, although touting that fact might not be at the top of RIM’s marketing plans.
