Research in Motion today declared the results for the quarter ended Aug 27 2001 and the company saw revenue drop to $4.2 billion. Surprisingly the revenue from services crossed $1 billion as the BlackBerry subscriber base saw a 40% growth to cross 70 million. The company managed to ship 10.6 million smartphones and 200,000 units of the Playbook during this quarter. Although it was not a great Q2 for RIM , it was not so bad considering the new devices like the Bold 9900 hit the stores only towards the fag end of the quarter. Hopefully Q3 will be a better quarter considering the global launch of the OS7 devices. The company has promised a QNX based mobile platform next year.
RESEARCH IN MOTION REPORTS SECOND QUARTER FISCAL 2012 RESULTS
Waterloo, ON – Research In Motion Limited (RIM) (Nasdaq: RIMM; TSX: RIM), a world leader in the mobile communications market, today reported second quarter results for the three months ended August 27, 2011 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).Highlights:
- Revenue in the second quarter was $4.2 billion and service revenue surpassed $1 billion for the first time
- GAAP net income of $329 million or $0.63 per fully diluted share; adjusted net income of $419million or $0.80 per fully diluted share
- The BlackBerry subscriber base grew 40% year over year to surpass 70 million
- RIM’s largest roll-out of BlackBerry smartphones was initiated with 7 new smartphones launched with over 90 carrier and distribution partners in 30 countries during the latter part ofQ2
- Approximately $780 million was invested as part of a consortium of companies that successfully bid to acquire intellectual property assets from Nortel
- BlackBerry smartphone shipments in Q3 are estimated to grow between 27-37% over Q2shipments
Q2 Results:
Revenue for the second quarter of fiscal 2012 was $4.2 billion, down 15% from $4.9 billion in the previous quarter and down 10% from $4.6 billion in the same quarter of last year. The revenue breakdown for the quarter was approximately 73% for hardware, 24% for service, and 3% for software and other revenue. During the quarter, RIM shipped approximately 10.6 million BlackBerry smartphones and approximately 200,000 BlackBerry PlayBook tablets. “We successfully launched a range of BlackBerry 7 smartphones around the world during the latter part of the second quarter and we are seeing strong sell-through and customer interest for these new products. Overall unit shipments in the quarter were slightly below our forecast due to lower than expected demand for older models,” said Jim Balsillie, Co-CEO at Research In Motion. “We will continue to build on the success of the BlackBerry 7 launch to drive the business as we focus our development efforts on delivering the next generation, QNX-based mobile platform next year.”