RIM reports second-quarter revenue of US$2.9bn

28 Sep 2012

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RIM's headquarters in Waterloo, Ontario, Canada

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BlackBerry maker Research in Motion (RIM) reported revenue of US$2.9bn for the second quarter of fiscal 2013, a 2pc increase from US$2.8bn in the previous quarter. The US$2.9bn is a decrease of 31pc from US$4.2bn in the same quarter of fiscal 2012.

The revenue breakdown for the quarter amounts to about 60pc for hardware, 35pc for service and 5pc for software and other revenue.

RIM also reported a net loss of US$235m, or US$0.45 a share for its fiscal Q2, a decrease from a profit of US$329m, or US$0.63, in the year-ago period.

Cash, cash equivalents, short-term and long-term investments increased by about US$100m to US$2.3bn at the end of the second quarter.

Cash flow from operations totalled about US$432m in Q2.

RIM also saw an increase in the number of BlackBerry subscribers. Its BlackBerry subscriber base rose to about 80m global subscribers, and the company shipped some 7.4m BlackBerry smartphones and 130,000 BlackBerry PlayBook tablet computers.

“Despite the significant changes we are implementing across the organisation, our second-quarter results demonstrate that RIM is progressing on its financial and operational commitments during this major transition,” said Thorsten Heins, president and CEO, who added that carriers and developers are responding well to previews of RIM’s upcoming BlackBerry 10 platform.

“Make no mistake about it, we understand that we have much more work to do, but we are making the organisational changes to drive improvements across the company, our employees are committed and motivated, and BlackBerry 10 is on track to launch in the first calendar quarter of 2013,” said Heins.

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Tina held senior editorial positions at daily newspapers in Ottawa and Toronto

editorial@siliconrepublic.com