Research in Motion, the Blackberry company has reported massive losses in the second-quarter. It has reported a loss of $235 Million.
Wondering why the stocks went bull in-spite of these losses. You need to be a Blackberry user to know the secrets.
The reason is quite simple, the analysts (market experts) believed that RIM would be reporting a far greater loss. Which now actually puts the company in a pretty stable position and quite survivable.
Here’s a quick breakdown of the figures for its second quarter:
– $235 million loss compared with profit of $419 million a year ago
– $2.9 billion revenue
– 7.4 million BlackBerry handsets shipped, which is 3.2 million fewer phones than a year ago but a million more than analysts had predicted
– 130,000 BlackBerry PlayBook tablets shipped
The financial figures come a couple of days after RIM CEO Thorsten Heins announced – against expectations – that BlackBerry subscriber numbers had risen to 80 million for the quarter ending September, up two million from earlier this year, thanks to healthy sales in developing markets. However, in North America its share of the mobile market continues to fall.
RIM seems pretty solid right now, but the future seems bleak. If RIM can out perform the market reports then it sure as hell can make a 180 and rock the mobile/tablet market.