Research in Motion 3rd-qtr profit grows 7 percent

December 22, 2008 at 10:33 Leave a comment

BlackBerry-maker Research in Motion Ltd. reported better-than-expected revenue guidance for the fourth quarter and strong holiday sales of its new smart phones despite the slowing economy. The Canada-based company met Wall Street expectations on Thursday by reporting income of $396.3 million, or 69 cents per share, for the three months ended Nov. 29, compared with $370.5 million, or 65 cents per share, in the year-ago period. Sales grew 66.3 percent to $2.78 billion from $1.67 billion. Excluding one-time charges, RIM said its profit was $477.3 million, or 83 cents per share, the high end of its guidance. Profit is 7 percent higher from the same period last year.

Analysts polled by Thomson, who typically exclude one-time items from their estimates, expected income of 82 cents per share on sales $2.8 billion. RIM said it added 2.6 million BlackBerry subscribers net users during the quarter and shipped 6.7 million devices, as it launched three new smart phones in the quarter, including a touch-screen BlackBerry geared for consumers.

Wireless Industry News

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Entry filed under: BlackBerry, Mobile, Research in Motion, RIM, Telecom, Wireless. Tags: , , , , , .

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