Research in Motion snags 2 million BlackBerry customers
Last Updated: Tuesday, December 21, 2004 | 5:24 PM ET
CBC News
The Waterloo-based company said it had 2.04 million BlackBerry subscribers by the end of Q3, an increase of 387,000.
That powered the company to a net profit of $90.4 million US (46 cents a share) on revenues of $365.9 million US, more than doubling its revenues from the same quarter in 2003.
Excluding a litigation provision of $24.6 million US (12 cents US per share), the company's adjusted net income was $114.9 million US (58 cents US per share). That beat the consensus adjusted profit estimate of 55 cents US a share by 21 analysts surveyed by Thomson/First Call.
'Solid subscriber growth'
Research in Motion has been locked in a patent infringement battle with Virginia-based NTP Inc. for more than three years. Last week, RIM was widely perceived as having lost a key ruling from a U.S. Appeals Court.
- FROM Dec. 14, 2004: Research in Motion shares drop on court ruling
"Solid subscriber growth topped the two million mark during the quarter and we are steadily scaling our business to broaden customer reach further with the addition of new carrier partnerships, new product offerings and new application extensions," Jim Balsillie, RIM co-CEO said in a release.
RIM also raised its earnings guidance for the fourth quarter to a range of 48 to 54 cents US per share (60 to 67 cents US per share excluding the patent litigation provision).
Revenue in Q4 of 2005 is expected to be in the range of $390 million US to $410 million US.
RIM share price falls after-hours
RIM's share price has more than doubled this year. The stock closed Tuesday at $106.85 on the TSX, up 36 cents.
On the Nasdaq, Research in Motion stock closed at $87.04 US. But after the earnings report was issued after the market's close, the shares fell sharply. In after-hours trading, they were down almost $5 US to $82.31 by 5:10 p.m. ET.
Some reports suggested the market was disappointed by the company's Q4 revenue estimates. They are lower than analysts' estimates.
Share Tools
Top News Headlines
- Canadian Pacific strikers face back-to-work legislation
- Labour Minister Lisa Raitt is prepared to end the Canadian Pacific Railway strike if necessary, after both CP and the union rejected a proposal for voluntary arbitration by the government-appointed negotiator on Sunday. Raitt says she is "extremely disappointed." more »
- Syrian regime denies role in Houla massacre
- The UN Security Council condemned the Syrian regime at an emergency meeting Sunday, holding president Bashar al-Assad's military responsible for the massacre of more than 100 people, dozens of whom were children younger than 10 years old. more »
- Ryder Hesjedal wins prestigious Giro d'Italia
- Victoria native Ryder Hesjedal has become the first Canadian to win one of the cycling world's three Grand Tour events, wrapping up the 2012 Giro d'Italia with an excellent performance in the final stage in Milan. more »
- Neighbour may have helped find missing kids in Mexico
- Two Winnipeg children who had been missing for nearly four years were found in Mexico after a man raised concerns about his neighbour, according to a private investigator. more »
Latest Business Headlines
- Bankia asks Spain for €19B
- The board of directors of Spain's troubled bank, Bankia, has asked the Spanish government for €19 billion ($24.5 billion Cdn) in financial support. more »
- EI reforms aim to boost employment, Flaherty says
- Finance Minister Jim Flaherty defended his government's proposals to change employment insurance, saying the aim is to remove "disincentives to employment." more »
- Employment Insurance review boards to be scrapped
- The federal government is scrapping two review boards used by people appealing decisions made about their employment insurance. more »
- Ottawa moves to limit foreign investment reviews
- The federal government is raising to $1 billion the amount of foreign money that can go into a Canadian company before the investment is reviewed. The review has been used in the past to block foreign takeovers of MDA and Potash Corp. more »
Lang & O'Leary Exchange
Markets
| Index | Last Trade | Change |
|---|---|---|
| TSX COMPOSITE | 11576.47 | 10.4 |
| DOW | 12454.83 | -74.92 |
| NASDAQ | 2837.53 | -1.85 |
| SP 500 | 1317.82 | -2.86 |
| NYSE COMPOSITE | 7534.32 | -18.01 |
| AMEX | 2227.37 | 1.45 |
| TSX-VENTURE | 1309.27 | 26.8 |
The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.
Business Features
- Accused in blast that killed Alberta mom handled her funds
- Seniors float above Montreal's Quartier Latin
- Remains found in bag on Cape Breton river ID'd
- Neighbour may have helped find missing kids in Mexico
- Quebec students and province to resume talks
- Lip-dub marriage proposal an internet hit
- Syrian regime denies role in Houla massacre
- B.C. NDP calls for unity in fighting coast guard closure
- Canadian Pacific strikers face back-to-work legislation
