rrroll up the RIM to win
Waterloo, ON - based Research in Motion [RIM-T] beat all expectations on their second-quarter profits report. RIM stated earnings of $287.7-million U.S., or 50-cents a share, for the three months ended Sept. 1. That figure was up from a profit of $140.2-million, or 25 cents a share, in the same period - the previous year.
RIM also added 1.45 million subscribers in the quarter, versus the predicted 10.5 million. It said more than three million of its devices were shipped in the quarter. RIM forecasted revenue between $1.6-billion and $1.67-billion and an earnings per share of between 59-cents and 63-cents for the coming third quarter. It also expects to add about 1.65 million new subscribers.
The company has also continued its aggresive push into the retail market during the quarter. The BlackBerry has always been a symbol for many executives, politicians, lawyers and other professionals. Today RIM is taking on the challenge to penetrate the retail consumer market in the same manner.
At the moment, Resarch In Motion says more than 30 per cent of its subscribers are non-enterprise. The number of RIM-subscribers would rapidly grow if the BlackBerry became common to the Average Joe, as it is in the business environment.
“RIM’s second quarter results were exceptionally strong on all metrics including revenue, subscriber account additions and net income,†RIM co-chief executive officer Jim Balsillie said in a statement. “This growth is fuelled by the depth of the BlackBerry product portfolio and the continued diversification of our business across market segments and geographies.â€
Mr. Balsillie said the company is also working to enter China’s markets, where currently its service is available, but not its handsets.
RIM’s share price has more than trippled since September 2006 as strong demand for its devices continues to hold and grow. Analyst and investor views on the company and its prospects has also reinforced a surge in their stock prices.
Way to go, RIM! They have well-established an innovative company with natural, reliable growth. Great model chages, and agressive rollouts. Looks like RIM isn’t handing out its market share for dinner to anyone - not to Microsoft’s VM-devices, not to Apple’s iPhone.
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