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RIM's Q2 Profit Falls on Weak Shipments

BlackBerry saw its profit drop sharply to $329 million in the second quarter and failed to meet its own mobile device shipment predictions. The company said Thursday that it shipped 10.6 million BlackBerry smartphones, below its forecast of 11 million to 12.5 million, and 200,000 PlayBook tablets.

RIM did, however, increase its BlackBerry subscriber base to 70 million, up 40 percent over last year.

RIM reported a second-quarter net income of $329 million, or 63 cents per share, on $4.17 billion in revenue. That's down from a profit of $797 million, or $1.46 per share, on $4.62 billion in revenue a year ago.

Analysts polled by Thomson Reuters expected earnings of 90 cents a share on revenues of $4.5 billion.

RIM shares were down $ $4.45 (15.06%) to $25.09 in after-hours trading.

— Sarah Reedy, Senior Reporter, Light Reading Mobile

DCITDave 12/5/2012 | 4:53:30 PM
re: RIM's Q2 Profit Falls on Weak Shipments

I like how RIM is making a profit of something like $3.6 million A DAY and everyone is acting like they're going out of business tomorrow.


Take a deep breath, tech industry. The company is having its troubles but it has a rather impressive pile of intellectual property and a very big base of customers. They won't be the dominant brand they used to be, but they'll be fine.


ph

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