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Blackberry brings big profits to RIM

Published:Thursday | April 1, 2010 | 12:00 AM

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.