RIM reports solid earnings as smartphone prices fall

RIM reports solid earnings as smartphone prices fall

Summary: The company's fourth-quarter results were in line with expectations, although its average smartphone price is falling and it has had to increase spending on the PlayBook launch

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Research in Motion has announced fourth-quarter earnings in line with expectations, but the company's outlook disappointed.

The company delivered fourth-quarter earnings of $934m (£580m), or $1.78 a share, on revenue of $5.6bn, up one percent from a year ago. Wall Street analysts were expecting Research In Motion (RIM) to report earnings of $1.76 a share on revenue of $5.64bn.

For fiscal 2011, RIM reported earnings of $3.4bn, or $6.34 a share, on revenue of $19.9bn, up 33 percent from a year ago. As expected, RIM was carried by international sales and the company shipped 52.3 million smartphones for the year. However, RIM's average smartphone selling prices are falling and the company has had to ramp up spending to support the launch of the BlackBerry PlayBook.

For more on this ZDNet UK-selected story, see RIM's fourth quarter solid, but outlook cut on weak pricing, PlayBook expenses on ZDNet.com.


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