BlackBerry maker RIM’s revenues up 40pc

17 Dec 2010

Research in Motion reported revenues of US$5.5bn, up 40pc on last year. The company shipped a record 14.2 million smartphones during the third quarter.

About 5.1 million net new BlackBerry subscriber accounts were added in the quarter. At the end of the quarter, the total BlackBerry subscriber account base was more than 55 million.

“We are pleased to report another record quarter with strong growth in shipments of BlackBerry smartphones leading to record revenue, subscriber additions and earnings,” said Jim Balsillie, co-CEO at Research In Motion.

BlackBerry adoption accelerates

“RIM’s business continues to grow and diversify as BlackBerry adoption accelerates in markets around the world.

“With strong results and momentum from our recent product introductions, as well as growing excitement from our partners and customers around upcoming smartphone, tablet, software and service offerings, we are setting the stage for continuing success,” Balsillie said.

The company’s net income for the quarter was US$911.1m, or US$1.74 per share diluted, compared with net income of US$796.7m, or US$1.46 per share diluted, in the prior quarter and net income of US$628.4m, or US$1.10 per share diluted, in the same quarter last year.

The total of cash, cash equivalents, short-term and long-term investments was US$2.47bn as of 27 November 2010, compared to US$2.03bn at the end of the previous quarter, an increase of US$446m from the prior quarter.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years