RIM beats expectations
Posted Dec 20, 2012 05:22:50 PM.
This article is more than 5 years old.
Research In Motion (TSX:RIM) beat expectations in its latest results as it reported a third-quarter profit of $9 million.
The profit amounted to two cents per share for the three months ended Dec. 1, compared with a profit of $265 million or 51 cents per share a year ago. Revenue totalled $2.73 billion, down from $5.17 billion.
On an adjusted basis, RIM said it lost $114 million or 22 per diluted share.
Analysts expect a quarterly loss of 32 cents per adjusted share on revenue of $2.6 billion
The results come as RIM prepares to unveil a new line of smartphones running its latest operating system next month.
The launch will see the smartphone pioneer enter the most important months of its history _ ones that will likely determine whether RIM survives in its existing form.
RIM stock is trading higher in after hours trading.
