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RIM financial results are shocking

RIM announced their financial results the previous night, sporting a grand increment in their revenues since previous year’s outputs and clearly and proudly signifying the extraordinary number of blackberry’s sold. The numbers from the report were astounding.

  • Revenue went up by over 20%, which is a rather humbling figure to come to terms with.
  • Incomes per share also catapulted. Blackberry Unlocked smartphone shipments expanded greatly during the same time last year to an unimaginable amount, almost over ten million. RIM shipped its 100 millionth Blackberry smartphone during this particular period.
  • BlackBerry subscriber account base increased approximately to a jaw dropping percentage of almost 60% over the last year to a hefty amount, aided by a humongous number of subscribers increment.
  • RIM’s Board of Director passed the bill on share repurchase program to buy for nullifying up to over thirty million common shares.

In the perpetually exciting question period, quite a few number of interesting know-how’s are received. Co-CEO Jim Balsillie proposes a few strategies to this effect. He might have been hinting on gauging the market for companion and tablet devices in organizations and many will vouch for the fact that it was a slight nod of acknowledgement that RIM is actually working- on one. Balsillie also lectured in a fair bit about dual mode operating systems, which could make it possible to swap between “work mode” and “play mode”.

Mike Abramsky from RBC Capital Markets said that they expected valuation to stick to range bound near term on competitive evaluations but for emotion to grow with rising visibility to improvised competition position and execution.

William Power from Baird suggested that based on their store visit discoveries and product road maps they expect huger turnovers and better share gains from Android based gadgets.

Google Nexus One Unlocked Android is sure gaining momentum, but it still remains a mystery how much fight OS 6 can put up.

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