WATERLOO, ON – Research In Motion (RIM) shipped its 100 millionth BlackBerry smart phone earlier this year, one of the highlights from a quarter that also saw a 24% jump in revenue and a 41% increase in profits.
For the three months ended May 29, 2010, BlackBerry shipments grew more than 43% over the same quarter last year to 11.2 million, while its BlackBerry subscriber account base grew approximately 60% over the prior year to 46 million. 4.9 million net new subscriber accounts were added in Q1.
Revenue for the first quarter of fiscal 2011 was US$4.24 billion, compared to $4.08 billion in the previous quarter, and up 24% from $3.42 billion in the same quarter of last year. The revenue breakdown for the quarter was approximately 79% for devices, 16% for service, 2% for software and 3% for other revenue.
Net income for the quarter was $768.9 million compared with net income of $710.1 million in the prior quarter. Net income in the same quarter last year was $643.0 million.
"We continue to be focused on growing our business globally and we believe that the range of exciting new BlackBerry products being released in the coming months will create significant opportunities to accelerate RIM’s growth in the second half of the fiscal year", said co-CEO Jim Balsillie, in a statement.
The company also announced that it would proceed with a share repurchase program to purchase for cancellation up to 31 million common shares in the next 12 months.
