February 11, 2009 / 2:39 PM / in 9 years

RIM shares drop 11.8 percent on disappointing outlook

TORONTO, Feb 11 (Reuters) - Research In Motion’s RIM.TO shares dropped 11.8 percent at the open on the Toronto Stock Exchange on Wednesday, after it said its quarterly earnings and gross margin would come in at the low end of expectations even as subscriber growth topped forecasts.

The shares of the BlackBerry maker were down 11.8 percent at C$62.57. ($1=$1.25 Canadian) (Reporting by Scott Anderson)

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