RIM 3Q Profit Up 59 Pct On Record BlackBerry Sales
Balsillie reiterated that 100 percent of the handhelds sold one day will be smartphones.
IDC Canada analyst Kevin Restivo said RIM's results underscore the shift from cell phones to smartphones.
"The worldwide smartphone opportunity remains huge ¿ RIM continues to capitalize on it," Restivo said.
RIM's better-than-expected report comes as BlackBerry users in North America faced delays in receiving e-mail on their devices Thursday. RIM said that technicians isolated and resolved the issue and that it is investigating the cause.Users were still able to make phone calls, browse the Internet and send and receive text messages. RIM didn't say how many users were affected or how long the outage lasted. RIM said some customers may still experience delays as e-mail queues are processed. RIM, which is based in Waterloo, Ontario, said Thursday that it earned $628.4 million, or $1.10 per share, in the quarter that ended Nov. 28. That compares with $396.3 million, or 69 cents per share, in the same quarter a year earlier. Revenue was up 41 percent to $3.92 billion from $2.78 billion last year. The company's performance surpassed the expectation of analysts polled by Thomson Reuters, who were expecting net income of $1.04 per share and revenue of $3.78 billion.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $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
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV