WATERLOO, ON – Research In Motion (RIM) beat analyst’s expectations of its second quarter revenues and earnings.
Canada’s biggest technology firm saw its revenue during the quarter ended August 28 grow 31% year-over-year to US$4.62 billion, which the company brokedown as approximately 79% for devices, 17% for service, 1% for software and 3% for “other” revenue.
RIM said that it shipped a record 12.1 million BlackBerrys during the quarter, growing its BlackBerry customer base to more than 50 million. The figures included sales of the BlackBerry Torch smart phone which launched in August.
“This accomplishment and RIM’s solid financial results during the second quarter were driven by effective business execution and strong demand for RIM’s portfolio of BlackBerry smart phones and services in markets around the world," said co-CEO Jim Balsillie, in a statement. "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."
Net income for the quarter was $796.7 million, compared with net income of $768.9 million in the prior quarter and net income of $475.6 million in the same quarter last year.
The company predicted that third quarter revenue would increase to a range of $5.30 billion to $5.55 billion, with net subscriber account additions expected to be in the range of 5.0 to 5.4 million.
