BlackBerry Maker RIM Posts $492 Million Profit For 2Q - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Mobile // Mobile Devices
News
9/25/2008
06:35 PM
50%
50%

BlackBerry Maker RIM Posts $492 Million Profit For 2Q

The company is still the dominant leader in U.S. smartphone sales, and is making headway around the globe.

Research In Motion saw profits and sales increase for its second quarter, but the delay of its flagship device caused the company to miss analyst expectations.

The maker of BlackBerry reported its net income was $495.5 million, compared with $287.7 million for the same period last year. The company also reported revenue of $2.58 billion, an increase of 88% from a year ago.

Despite the increases, RIM missed analysts' expectations, and its shares dropped about 15% in after-hours trading. One major reason for missing the expectations was the delay of the U.S. version of the BlackBerry Bold.

The Bold will be the company's flagship device, and it has been released in multiple markets outside the United States. The powerful smartphone is highly anticipated, but there have been multiple delays due to battery and 3G connectivity issues.

While its stock may have taken a dip today, executives from RIM remain optimistic about the future.

"We shipped over 11 million BlackBerry smartphones in the first half and we're gearing up for an even stronger second half," said Jim Balsillie, RIM's co-CEO, in a statement. "Our enterprise business remains strong and our momentum in the consumer marketplace continues as we head into the holiday buying season with an amazing product portfolio and solid marketing support from partners."

The company is still the dominant leader in U.S. smartphone sales, and is making headway around the globe. RIM is also seeing increased adoption in the casual or prosumer market, which handsets like the BlackBerry Curve, Pearl, and the upcoming clamshell Pearl Flip.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
InformationWeek Is Getting an Upgrade!

Find out more about our plans to improve the look, functionality, and performance of the InformationWeek site in the coming months.

News
Remote Work Tops SF, NYC for Most High-Paying Job Openings
Jessica Davis, Senior Editor, Enterprise Apps,  7/20/2021
Slideshows
Blockchain Gets Real Across Industries
Lisa Morgan, Freelance Writer,  7/22/2021
Commentary
Seeking a Competitive Edge vs. Chasing Savings in the Cloud
Joao-Pierre S. Ruth, Senior Writer,  7/19/2021
White Papers
Register for InformationWeek Newsletters
Video
Current Issue
Monitoring Critical Cloud Workloads Report
In this report, our experts will discuss how to advance your ability to monitor critical workloads as they move about the various cloud platforms in your company.
Slideshows
Flash Poll