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RIM Posts $235M Net Loss as Sales Slip

BlackBerry shares rose after hours today as investors were apparently encouraged by the Canadian company's less-than-expected loss.

The BlackBerry maker posted a a net loss of $235 million, or $0.45 a share, in its fiscal second quarter on revenue of $2.9 billion. In the same quarter last year, it reported net income of $329 million, or $0.63 a share, on revenue of $4.2 billion.

Analysts surveyed by Thomson Reuters had expected a loss of $0.46 a share.

RIM shares rose $1.59 (22.2%) to $8.73 in after-hours trading on Thursday.

The company says it shipped 7.4 million smartphones in the quarter, compared to 7.8 million in the first quarter and over 10 million in the same period last year. By contrast, smartphone market leader Apple Inc. (Nasdaq: AAPL) sold 5 million of its new iPhone 5 in its opening weekend. (See Apple Sells 5M iPhones in First Weekend.)

RIM is hoping that its upcoming BB10 smartphones will help to reverse the company's fortunes. The first BB10 devices are expected early in 2013.

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— Dan Jones, Site Editor, Light Reading Mobile

joset01 12/5/2012 | 5:20:15 PM
re: RIM Posts $235M Net Loss as Sales Slip

99.9% of sales are BB7 at present, hardly any BB6 in the mix.

joset01 12/5/2012 | 5:20:15 PM
re: RIM Posts $235M Net Loss as Sales Slip

 BES 10 will manage BBs and other smartphones and tablets as well. Will businesses upgrade for that kind of functionality?

joset01 12/5/2012 | 5:20:15 PM
re: RIM Posts $235M Net Loss as Sales Slip

How many of the 80 million RIM installed base will update?


"We believe we can win back market share from competitors."


30% penetration of smartphone market=room to grow supposedly.


Didn't quite answer the question as asked.

joset01 12/5/2012 | 5:20:15 PM
re: RIM Posts $235M Net Loss as Sales Slip

"You might see entry-level product coming out on BB10, you know, next year."

paolo.franzoi 12/5/2012 | 5:20:14 PM
re: RIM Posts $235M Net Loss as Sales Slip

Explain the meaning of manage in this context...but


There is an IT guy who has the job of running the BES server.  Lots of times he runs Exchange as well.  He will be budgeting for an upgrade to keep his job.


seven


 

joset01 12/5/2012 | 5:20:14 PM
re: RIM Posts $235M Net Loss as Sales Slip

That's all I know right now. They said that as a response to a question at the end of the call. No further explanation of what managing other devices would mean.

joset01 12/5/2012 | 5:20:14 PM
re: RIM Posts $235M Net Loss as Sales Slip

CEO on RIM's problem last week.


"That was not an outage" we had a problem with service delivery delays. 4.6M of the user base was affected.

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