RIM 2Q earnings up 72 percent but miss forecast
Thursday September 25, 4:18 pm ET
Research in Motion earnings up 72 percent, but miss Wall Street estimates by 1 cent
NEW YORK (AP) -- BlackBerry maker Research in Motion Ltd. says its earnings for the latest quarter rose 72 percent. The results missed analyst expectations by a penny per share.
RIM said Thursday it earned $495.5 million, or 86 cents per share, in the fiscal second quarter, which ended Aug. 30. That compared with net income of $287.7 million, 50 cents per share, in the same quarter last year
Revenue was $2.58 billion, up 15 percent from a year ago.
Analysts polled by Thomson Reuters expected earnings of 87 cents a share, excluding items, on revenue of $2.6 billion for the quarter.
RIM sold 6.1 million BlackBerrys in the quarter, short of the 6.3 million expected by RBC Capital Markets analyst Mike Abramsky.
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