RIM’s Q2 results: not as bad as expected?

RIM’s Q2 results: not as bad as expected?It’s a bit of a strange time for Canadian manufacturer RIM, largely thanks to announcing BlackBerry 10 in May and taking eight bloomin’ months to bring it to market.

In the meantime, Research In Motion has unveiled its financial Q2 results, and while they’re not as terrible as expected, they aren’t exactly great.

The upshot is that RIM generated $2.9 billion in revenue over the three months ending September 1, a slight increase (2%) over the previous financial quarter.

Alas, RIM posted a net loss of $235 million, including “$136 million in pre-tax restructuring costs”.

Shipments of BlackBerry smartphones were down to 7.4 million (from 7.8 million), bringing the total user base to – “approximately” – a nice round 80 million.

Shipments of the BlackBerry PlayBook tablet, meanwhile, were a paltry 130,000. Oh dear.

As for the future, RIM predicts things are only going to get tougher this year, based on “the increasing competitive environment”, lower shipment volumes, and the cost associated with the launch of BlackBerry 10.

Not a complete disaster, all things considered. RIM fans, console yourselves with an in-depth look at BlackBerry 10.

Read more about: Blackberry OS

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Pondlife  Sep. 28, 2012 at 12:15

Yeah no too bad considering they've nothing new on the market, this quarter likely to be worse as people wanting bb start to wait for bb10.
The playbook sales at every decreasing prices certainly help to show why there's not much drive for netflix or the like to make apps. 2 days to sell as many android tabs as 90 days playbook sales and about a couple of hours for ipads..

JanSt / MOD  Sep. 28, 2012 at 14:01

They are skipping an entire Christmas sales season. Odd strategy.

Pondlife  Sep. 28, 2012 at 14:26

Maybe they don't see themselves as an under the christmas tree phone company.
In some ways refreshing to see a company waiting til a product is ready, of course it best be totally ready when it does ship...


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