RIM Ships 7.4 Million BlackBerry Phones and 130,000 PlayBooks This Quarter
Research In Motion has beat Wall Street’s expectations. The company’s stock went up 17% in after-hours trading as a result. RIM is preparing to release devices that are powered by the BlackBerry 10 operating system in early 2013. The company is also adding movies, music, and TV shows to BlackBerry App World.
RIM’s revenue was $2.9 billion, which is down 31% from the same quarter one year ago. It is up 2% from $2.8 billion last quarter. The net loss was $235 million ($0.45 diluted). Thomson Reuters said that analysts were expecting RIM to report revenue of $2.48 billion and a loss of $0.46 per share.
RIM shipped about 7.4 million BlackBerry smartphones and 130,000 BlackBerry PlayBook tablets this quarter.
“Despite the significant changes we are implementing across the organization, our second quarter results demonstrate that RIM is progressing on its financial and operational commitments during this major transition,” said RIM CEO Thorsten Heins in a statement.
“Subscribers grew to approximately 80 million global users. Revenue grew sequentially from the first quarter, cash, cash equivalents, short-term and long-term investments increased by approximately $100 million to $2.3 billion. And carriers and developers are responding well to previews of our upcoming BlackBerry 10 platform.”
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry