RIM exceeds profit forcecast

Source: Technology Digital

Date :10/5/2007 4:23:00 AM

BlackBerry maker Research In Motion Ltd reported a second-quarter profit on Thursday beating expectations as it broke the 10-million subscriber mark.

RIM said it earned $287.7 million for the three months ended September 1.

This was up from a profit of $140.2 million in the same period last year.

The Ontario-based company continued its push into the retail market during the quarter.

With its revenue rising 108 percent to $1.37 billion compared to $658.5 million in the same period a year earlier.

Forecast

The company said it added a better-than- predicted 1.45 million subscribers in the quarter, making its total about 10.5 million.

Moreover, more than 3 million of its devices were shipped.

For the upcoming third quarter, the company predicts further strength, forecasting revenue of between $1.6 billion and $1.67 billion.

It said it expects to add about 1.65 million new subscribers.

The BlackBerry is a staple for many executives, lawyers, politicians and other professionals; however RIM has yet to penetrate the broader consumer market to the same degree.

October 5 2007

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