April 2 (Bloomberg) -- Research In Motion Ltd., the maker of the BlackBerry phone, forecast first-quarter profit that beat analysts estimates, as sales of new models including the Storm and Bold increased.
The shares surged 22 percent in late trading after RIM said profit will be 88 cents to 97 cents a share in the period ending May 30, compared with the 82-cent average of estimates compiled by Bloomberg. Sales will climb to as much as $3.5 billion, RIM said today in a statement. That also topped estimates,
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RIM also said its gross margin, the percentage of sales left after production costs, will be 43 percent to 44 percent in the first quarter, surpassing Wus 40 percent to 41 percent estimate.
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Demand for BlackBerry phones including the Storm and the latest version of the Curve is resilient, based on retail store checks in February and March, said Mike Abramsky, an analyst at RBC Capital Markets in Toronto. He rates the stock outperform. The Bold model, RIMs most-expensive device, remains popular with business users, he said.
