Phones (10620)

RIM records strong results

BlackBerry maker unaffected by US slowdown

3 April 2008 11:22 GMT / By Katie Scott

BlackBerry maker Research In Motion has reported a fourth-quarter profit that not only beat expectations but also has led analysts to predict the PDA maker is going to ride out the US economic storm.

RIM is reporting that it earned $412.5 million, or 72 cents a share, in the 3 months ended 1 March. This is to be compared to a profit of $187.4 million for the same period in 2007.

This beat RIM's own predictions and the company is already saying that it expects profits for the first quarter of 2008 will also be up on last year.

Analysts has been concerned that possible job losses in corporate America could hit BlackBerry sales; but RIM is reporting that it added 2.18 million subscribers during the quarter, and that the total number of BlackBerry subscribers has now gone over 14 million.

Full tags

Phones, BlackBerry, RIM, Biz, Results