Bad Economy? Not If You Ask RIM!
on 4 Apr 2009 11:19 am EDT
With the world concentrated on the state of the economy, RIM has released their 2009 and 4th Quarter Financial Reports which surprised even those within RIM as profits exceeded those expected.
Revenue for the fourth quarter of fiscal 2009 was $3.46 billion, up 24.5% from $2.78 billion in the previous quarter and up 84% from $1.88 billion in the same quarter of last year.
The revenue breakdown for the quarter was approximately 83% for devices, 12% for service, 2% for software and 3% for other revenue. Revenue for the fiscal year ended February 28, 2009 was $11.07 billion, up 84% from $6.01 billion last year.
RIM shipped approximately 7.8 million devices in the fourth quarter and approximately 26 million devices during fiscal 2009.
With $11 Billion in revenue, over 50 million BlackBerry devices shipped and revenues only expected to increase, I'd say RIM is doing something right.