In contrast, analysts had forecast earnings of 72 cents a share in the current quarter on sales of $636.4 million. In the same quarter a year ago, RIM earned $111.1 million, or 56 cents a share, on sales of $490.1 million.
RIM's earnings fell in the just-completed quarter as it revved up its marketing and research-and-development spending. Year-over-year R&D expenses jumped 49% to $51.5 million, while marketing and administrative expenses rose 71% to $107.3 million.
The company has been rolling out a slew of new deals with cell phone carriers and is in the midst of developing a series of new products, company executives said on conference call.
"We're investing in a lot of areas," Balsillie said. "That's what drives the top line."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV