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BlackBerryToday > News > RIM Exceeds Wall Street Expectations RIM Exceeds Wall Street Expectations
By Paul Shread
Research in Motion, like competitor Palm, Inc. earlier in the week, posted quarterly results that surpassed Wall Street expectations late Wednesday.
RIM showed little effect from its patent battle with NTP, reporting earnings of 71 cents a share on a 53 percent jump in sales, handily beating estimates, and the company raised February quarter guidance too. RIM added 645,000 subscribers in the quarter, for a total of 4.3 million, but the company lowered its current quarter subscriber guidance by 50,000 to 700,000 to 750,000. "Although our litigation has certainly been pulled into the spotlight recently, we remain intensely focused on serving our customers and partners and maintaining our longstanding culture of innovation," RIM CEO Jim Balsillie said in a statement. The company said on a conference call that it continues to work on a workaround and a settlement with NTP to avoid a shutdown of its U.S. operations. RIM shares rose 5 percent after hours Wednesday. Related Links:
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