Research in Motion: Blackberry Bold Delayed, RBC Trims Guidance

Research In Motion (RIMM) shares are lower this morning heading into the company’s announcement after the close of results for its fiscal first quarter ended May. The Street consensus is for revenue of $2.27 billion and profits of 85 cents a share.

Meanwhile, RBC Capital’s Mike Abramsky asserts in a research note this morning that AT&T (T) appears likely to launch the new 3G Blackberry Bold in mid-August, two or three weeks later than expected, “as it continues to stabilize the device” on its 3G HSPA network. He reports that the launch with Rogers in Canada is on track for July, with other carriers expected to offer the phone later in August.

On the delay, Abramsky trimmed his Q2 forecast to revenue of $2.5 billion to $2.6 billion and profits of 91-94 cents a share, down from $2.6 billion to $2.7 billion and 94-97 cents. That still leaves him above the Street view for the August quarter of $2.4 billion and 90 cents.

Abramsky says the delay is not that surprising, noting that the Bold uses more power than 2.5G models, uses a new version of the company’s operating system and features a new Marvell (MRVL) processor and chipset. Abramsky predicts “strong” demand for the new phone.

RIMM today is off $2.40, or 1.7%, to $138.08.