RIM (RIMM) Posts Strong Q3 Subs Growth; Guides Q4 Ahead of Street
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Research in Motion Ltd. (NASDAQ: RIMM) posted better-than-expected third-quarter results on Thursday, as shipments of its smartphones rose 40 percent over last year.
The BlackBerry smartphone maker reported third-quarter earnings of $1.74 per share, 10 cents better than the analyst estimate of $1.64 per share.
Revenue for the company rose 40 percent to $5.5 billion in the three month period ended November 27, beating the market consensus of $5.39 billion.
RIM said that shipments of its popular smartphones jumped to 14.2 million in the period.
"We are pleased to report another record quarter with strong growth in shipments of BlackBerry smartphones leading to record revenue, subscriber additions and earnings. RIM's business continues to grow and diversify as BlackBerry adoption accelerates in markets around the world," said Jim Balsillie, Co-CEO at RIM. "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."
Looking forward, the company sees fourth-quarter earnings of $1.74 to $1.80 per share, ahead of the consensus of $1.61 per share. The company also sees sales of $5.5 billion to $5.7 billion, compared to the Street's view of $5.47 billion.
Shares of RIM are up 3 percent to $60.99 in aftermarket movement on Thursday.
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The BlackBerry smartphone maker reported third-quarter earnings of $1.74 per share, 10 cents better than the analyst estimate of $1.64 per share.
Revenue for the company rose 40 percent to $5.5 billion in the three month period ended November 27, beating the market consensus of $5.39 billion.
RIM said that shipments of its popular smartphones jumped to 14.2 million in the period.
"We are pleased to report another record quarter with strong growth in shipments of BlackBerry smartphones leading to record revenue, subscriber additions and earnings. RIM's business continues to grow and diversify as BlackBerry adoption accelerates in markets around the world," said Jim Balsillie, Co-CEO at RIM. "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."
Looking forward, the company sees fourth-quarter earnings of $1.74 to $1.80 per share, ahead of the consensus of $1.61 per share. The company also sees sales of $5.5 billion to $5.7 billion, compared to the Street's view of $5.47 billion.
Shares of RIM are up 3 percent to $60.99 in aftermarket movement on Thursday.
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