RIM's 4Q Profits More Than Double From Last Year
Earlier today RIM reported their fourth-quarter profits. They have more than doubled from a year ago, adding 2 million new subscribers during the quarter.
RIM reported that they earned $412.5 million (72 cents/share) compared to earnings of $187.4 million (33 cents/share) last year. Revenue also rose to $1.88 billion from last years sales number of $930.4 million. Booya!
Co-CEO Jim Balsillie said that the results were led by 'continuing to diversify the base of BlackBerry users'. 38% of RIM's subscriber base are now individuals...not enterprise users. In fact, more than half of new subscribers are non-enterprise users.
Retail sales were noted as an area of huge growth and strength (anyone you know out there get a Pearl for Christmas? I'm not surprised!). Looking back at the 4Q of '07 it isn't much of a surprise to me they did so well in the retail sector. Apparently accounting officer for RIM Brian Bidulka wasn't surprised either as he commented that retail sales were in-line with RIM's expectations.
In after-hours trading RIM rose 6% to $122.70 after losing $1.69 in the regular session.
[ via MarketWatch ]