RIM results jump in 2010/11 Q1

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BlackBerry manufacturer Research In Motion (RIM) has reported a bumper first quarter, with shipments, subscribers and revenue up.

In the three months to May 29, the first reported quarter of its 2010/11 financial year, RIM recorded revenue of $4.24 billion, up 24 per cent on the three months to May 30, 2009. It was also up on the $4.1 billion reported during the three months to February 27.

Devices accounted for 79 per cent of revenue, with 16 per cent attributable to service, software for two per cent and three per cent for other revenue.

Net income for the quarter was $769 million compared with net income of $643 million last year, and $710 million in the prior quarter.

BlackBerry shipments were up 43 per cent to 11.2 million in the quarter, including the 100 millionth BlackBerry smartphone to be shipped.

This was supported by a year-on-year growth of 60 per cent in its subscriber base to 46 million. Net new subscriber accounts added during the quarter totalled 4.9 million.

Looking forward, revenue for the second quarter of fiscal year 2010/2011 ending August 28 is expected to be in the range of $4.4-4.6 billion. Net subscriber account additions in the second quarter are expected to be in the range of 4.9-5.2 million.

RIM co-CEO Jim Balsillie said: “RIM achieved significant earnings growth and shipped a record 11.2 million devices during the first quarter, including its 100 millionth BlackBerry smartphone.

“We continue to be focussed on growing our business globally and we believe that the range of exciting new BlackBerry products being released in the coming months will create significant opportunities to accelerate RIM’s growth in the second half of the fiscal year.”

 

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