RIM profits double on soaring BlackBerry sales
Last Updated: Thursday, October 4, 2007 | 4:43 PM ET
CBC News
Research in Motion reported late Thursday that second-quarter profits doubled as the subscriber level for its BlackBerry wireless devices surpassed the 10 million level.
RIM earned $287.7 million US in Q2 (50 cents US a share). Revenue more than doubled to $1.37 billion US.
RIM three-month TSX trading
The company added 1.45 million BlackBerry subscriber accounts in the quarter, bringing total accounts to 10.5 million.
"This growth is fuelled by the depth of the BlackBerry product portfolio and the continued diversification of our business across market segments and geographies," RIM co-CEO Jim Balsillie said in a release.
RIM shares rose $4.28 to close at $100.30 on the TSX ahead of the earnings release. But in U.S. after-hours trading, the shares lost much of the day's regular session gains.
RIM added 1.45 million BlackBerry subscribers in the second quarter, pushing its subscriber base to 10.5 million.
(CBC)
The company is forecasting Q3 revenue of $1.60 billion US to $1.67 billion US and earnings of 59 cents US to 63 cents US per share. It's also anticipating another 1.65 million subscriber accounts.
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