RadioShack Shares Drop In Pre-Market Trading On Downbeat Q1 Earnings

Shares of RadioShack Corp RSH fell after the company reported weaker-than-expected Q1 earnings. RSH reported its Q1 earnings at $35.1 million, or $0.33 per share, down from $50.1 million, or $0.39 per share, in the year-earlier period. However, analysts were expecting earnings of $0.35 per share. The company's sales increased to $1.06 billion from $1.04 billion. RSH lowered the top end of its 2011 profit projections to a range of $1.60 to $1.80 per share, from $1.60 to $1.90 per share. However, analysts expected 2011 earnings of $1.72 per share. RSH shares dropped 2.40% to $15.45 in pre-market trading. Read more from Benzinga's Company news.