RIM beats Wall Street estimates with third-quarter profits

The BlackBerry maker has reported net profit of $911.1m, with most of the revenue attached to sales of its devices and its expanding subscriber account base
Written by Sam Diaz, Inactive

Research In Motion has exceeded Wall Street's estimates for the third quarter.

For the quarter ending 27 November, the company reported net profit of $911.1m (£582.9m), or $1.74 per share, on revenue of $5.49bn. Wall Street had been expecting earnings of $1.64 per share on revenue of $5.4bn.

The company said the 82 percent of the revenue came from devices, while 15 percent was attributed to services. The company shipped about 14.2 million devices and added about 5.1 million net new subscribers in the quarter, taking the subscriber account base to over 55 million. Analysts had been expecting 5.2 million new subscribers.

For more on this ZDNet UK-selected story, see RIM: Earnings show we're still in the game on ZDNet.com.

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