RIM Sells Record Number Of BlackBerry Devices; Beats Q2 Estimates
The critics are quick to say that Research In Motion’s BlackBerry platform won’t stand up to the test of time, but it didn’t fall down in the past quarter.
In the company’s second fiscal quarter, revenues jumped 31 percent to $4.62 billion compared to the year-ago period. RIM (NSDQ: RIMM) sold 12.1 million devices, another record and earned $796.7 million, or $1.46 a share diluted to beat analyst expectations of $1.36 a share on revenues of $4.49 billion, according to estimates from FactSet Research.
BlackBerry sold 12.1 million devices, representing an increase of over 45 percent compared to the year ago period. The company now has a base of 50 million subscribers.
The company’s strong performance likely had little to do with the new BlackBerry Torch, which has a touchscreen and the latest operating system. The phone is only available through AT&T (NYSE: T) and reactions have been mixed so far. In a release, Jim Balsillie, Co-CEO at Research In Motion, said: “We expect a continuation of this momentum in the third quarter as we extend the rollout of new products including the BlackBerry Torch into additional markets and benefit from heavy promotional activities and increasing customer demand as we head into the holiday buying season.”
The company’s stock, which has been battered by analyst downgrades over the past few months, rebounded today climbing 2.13 percent, or 97 cents, to close at $46.49. In early after-hours trading, the stock continued to rise, trading up 8.2 percent to $49.80 a share.
Awwww…..No Comment RIMM BASHERS….. Awwww….Go Screw Yourselfs than….I HOPE you all got screwed on yer Shortes !!!
LOL. This is one of those times that I go “Oh yeah, Analysts dont know crap. They’re like Weathermen.” I hate it when analysts try to predict stuff and they never get it right.
All smartphones numbers are going up as more and more feature phone users are converting to smartphones once that growth ends Blackberry might go down I expect Android to eat into BlackBerry market share as more Android phones with Blackberry form factor and better exchange support etc come out.
The few people with BlackBerry phones I know have been using them for years and can not live without the keyboard but majority of them also own iPod touches for the other stuff they want to do.
Lightweight, smaller, takes decent pictures (at last), still the smartest when it comes to emails, but not so smart when it comes to competing with the big ones (iPhone/Android). The new BlackBerry phones are still successfull but I’m not sure they are true “smartphones” when compared to Android or iPhone devices.