Earnings: RIM Q4 More Than Doubles; Outlook Lifts Stock
By Joseph Weisenthal - Wed 02 Apr 2008 01:22 PM PST
Another monster for BlackBerry maker Research in Motion (NSDQ: RIMM), which reported Q4 revenues of $1.88 billion, more than double from $930.4 million in the year-ago period. Net income also soared, rising to $412.5 million ($.72 per share) from $187.4 million ($.33 per share). New handset sales accounted for 81 percent of revenue. It said that net subscriber gains increased 33 percent on a sequential basis, passing two million for the first time in the company’s history. For the current quarter ending May 31, the company is expecting revenue of $2.23-$2.30 billion. The stock is up about 4 percent after hours on the report.
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