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Edition: U.S. Article Comments (0) Editor's Choice CIA website goes down, hackers claim responsibility Olive oil lovers show lower stroke risk Vietnam vet develops "low tech" fingerprint solution Call for votes to spur climate talks faces hurdles Study: Cancer drugs approved in U.S. before Europe Analysis: Computer security attracts venture capitalists Investors favor gas ahead of solar, nuclear Comment: Mobile app helps diagnose Parkinson’s Video: Scientists see nano-solution to airplane safety Slideshow: Rare lunar eclipse Follow Reuters Facebook Twitter RSS YouTube Read Casey Anthony lawyer's paternity question halts court 2:44pm EDT Congressman Weiner quits in lewd photo scandal | 4:30pm EDT Cable worried about poverty, not Netflix 14 Jun 2011 Special report: Government in cyber fight but can't keep up | 2:39pm EDT CIA website goes down, hackers claim responsibility 5:35am EDT Discussed 111 Obama weighs new steps to boost jobs 71 Republicans to debate, with Romney the frontrunner 59 Delaware police interview teen about Congressman Weiner Watched Hefner, fiancee split; Schwarzenegger mistress talks Wed, Jun 15 2011 Airbus' view of flying in the future Mon, Jun 13 2011 Vancouver riots over hockey loss 12:44pm EDT small business brad feld: Your idea is not special Every day, venture capitalist Brad Feld receives pitches from entrepreneurs who think their idea is unique. "And they are wrong," he says, noting that Google was not the first search engine and Facebook was not the first social network. What matters most, he says, is "the entrepreneurs’ execution of the ideas." Full Article Top 50 small business workplaces Notes on raising seed financing RIM slashes forecast again, shares tumble Tweet Share this Email Print Related News RIM shares to show lots of motion post-earnings 3:50pm EDT UPDATE 2-RIM faces tough sell on Q1 earnings, outlook 12:04pm EDT Smithfield Foods Q4 profit powered by exports 10:02am EDT After RIM warning, all eyes on new product outlook Wed, Jun 15 2011 RIM investor seeks change; PlayBook going global Fri, Jun 10 2011 Analysis & Opinion Tech wrap: Government bringing knife to cyber gun fight? Muni sweeps: Important deals for CA and NJ Related Topics Technology » Boxes of RIM PlayBooks are seen on a shelf in Toronto, April 19, 2011. Credit: Reuters/Mark Blinch TORONTO | Thu Jun 16, 2011 4:59pm EDT TORONTO (Reuters) - Research In Motion said on Thursday its quarterly profit dropped and revenue missed its lowered forecast, forcing the BlackBerry maker to slash its outlook and sending its shares sharply lower. The Canadian company, facing rising competition for its smartphones and under pressure after a botched launch of its PlayBook tablet computer, shipped 13.2 million BlackBerrys in the three months to May 28. It shipped 500,000 PlayBook tablets in the six weeks after the launch, exceeding the average analyst forecast of 366,000. But it said the tough conditions that pushed it to warn on profits in April were likely to persist. "Fiscal 2012 has gotten off to a challenging start. The slowdown we saw in the first quarter is continuing into Q2, and delays in new product introductions into the very late part of August is leading to a lower than expected outlook in the second quarter." co-Chief Executive Jim Balsillie said in the earnings statement. RIM said it expects earnings in the current quarter of between 75 cents and $1.05, sharply lower than the already pessimistic average view of $1.40, on revenue between $4.2 billion and $4.8 billion. It slashed its earnings outlook for the fiscal year to late March to between $4.25 and $6 a share, from $7.50 previously. The Waterloo, Ontario-based company made a net profit of $695 million, or $1.33 a share, on revenue of $4.9 billion. Analysts had expected profit of $1.32 a share on revenue of $5.1 billion. A year ago RIM earned $1.38 a share on revenue of $4.24 billion. Shares of RIM -- which reported after the bell -- hit an almost five-year low in the session after the company said a senior executive had taken medical leave. RIM shares fell more than 15 percent to $29.84 in trade after the closing bell in the United States. (Reporting by Alastair Sharp) Technology Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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