Earnings: RIM Revenues Up 37 Percent; Posts Lower Earnings On Settlement Charges
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Research In Motion failed to meet analyst expectations in the second quarter, mostly due to a $112.8 million charge related a patent settlement with Visto. If it were not for that, the smartphone company would have earned $588.4 million, or $1.03 a share, to beat estimates of $1.
The BlackBerry-maker also fell short on revenue expectations, which analysts were hoping would jump a generous 41 percent to $3.62 billion, according to Thomson Reuters (NSDQ: TRIN) (via MarketWatch). That brings into question how the company was affected by the iPhone, one of its biggest competitors, Still, the company was able to ship 8.3 million devices in Q2, resulting in 3.8 million new BlackBerry subscribers. At quarter’s end, the company had 32 million subscribers. That’s up substantially from the year-ago period when RIM (NSDQ: RIMM) shipped 6.1 million devices, and added 2.6 million new subscribers for a total of 19 million.
| 2Q 2010 | 2Q 2009 | Analysts Estimates For 2010 | |
|---|---|---|---|
| EPS | $0.83 | $0.86 | $1.00 |
| Net Income | $475.6M | $495.5M | N/A |
| Revenue | $3.53B | $2.58B | $3.62B |
Posted In: Money, Earnings, Companies, RIM, BlackBerry
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