RIM shares soar as it beats Q2 forecasts

WATERLOO - Research In Motion (RIM) shares soared nearly 20% in after-hours trade following news that earnings, while still bad, didn’t amount to the death spiral that was predicted. The results have led to new hopes for a revival as the company will have the cash reserves necessary to ramp up production of its new BlackBerry 10 devices due in early 2013 and market them to the world. In a conference call with investors, RIM President and CEO Thorsten Heins predicted the release of the Blackberry 10 would enable them to increase their smartphone market share. “The market today is...