CNBC analyst and personality (with emphasis on personality) Jim Cramer is back at it again. In the wake of a Research in Motion Ltd. (NASDAQ:BBRY) earning report that far surpassed Wall Street estimates (an actual EPS of 22 cents compared ao 29-cent loss estimate), it appears that BlackBerry is back at the forefront of discussion among smartphone company investors. While the Z10 launched in the middle of the company’s quarter, it reported 1 million sales of the new flagship handset, the Z10, which runs the new BlackBerry 10 operating system.
Cramer spoke extensively about Research in Motion Ltd. (NASDAQ:BBRY) on Thursday’s “Squawk on the Street” program, saying that this latest earning report could be a catalyst for a takeover attempt by another tech company. On the one hand, Cramer said that the earnings could suggest that “they will be in business for a long time,” and may increase the likelihood that another company – he mentioned Nokia Corporation (ADR) (NYSE:NOK) or Microsoft Corporation (NASDAQ:MSFT) could make a play for the company.
“This company was supposed to have a terrible quarter. This was not a terrible quarter,” Cramer said of Research in Motion Ltd. (NASDAQ:BBRY). “This company was on the ropes. It’s not anymore.” Cramer made note that BlackBerry has a very loyal following in overseas markets, most notably Indonesia and Europe. “This is an entrenched product in some places, and it is very difficult to unseat a product that is so entrenched.
What are your thoughts about Research in Motion Ltd. (NASDAQ:BBRY) in the wake of this latest earning report? Do you agree with Cramer’s assessment of this company? Is it on its way back? Give us your thoughts in the comments section below.
DISCLOSURE: I own no positions in any stock mentioned.
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