Blackberry brings big profits to RIM
Research In Motion says its fiscal fourth-quarter earnings jumped 37 per cent as its BlackBerry subscriber base grew and smartphone shipments increased.
Canada-based Research In Motion Ltd said yesterday that its net income for the December-February period was $710.1 million, or $1.27 per share. That is up from $518.3 million, or 90 cents per share, a year earlier.
Revenue rose 18 per cent to $4.08 billion, short of the $4.31 billion expected by analysts surveyed by Thomson Reuters.
The net income was nearly in line with analysts' predictions of $1.28 per share.
RIM says it added nearly 5 million net subscriber accounts in the quarter, bringing the total to more than 41 million.
For the current period, it expects earnings of $1.31 to $1.38 per share, above analyst expectations.