Update: RIM says Q2 forecast is lower than expected

Research In Motion missed analysts' lowered revenue forecasts for its fiscal first quarter and said its outlook for the second quarter was lower than expected, as it reported its first-quarter results Thursday.

RIM also revealed that the 4G version of its PlayBook tablet has apparently been delayed. On a conference call with press and analysts, co-CEO Mike Lazaridis said PlayBooks with LTE (Long-Term Evolution), WiMax and HPSA+ (High-Speed Packet Access) would come out this fall. In the past, RIM has forecast those products for summer.

Revenue for the first quarter, which ended May 28, was $4.9 billion, below the consensus forecast of $5.1 billion from analysts polled by Thomson Financial. The analysts' forecasts reflected a cut in RIM's own forecast, which was announced in late April. Read more...