RIM Q3 Earnings up 8% to $2.78B

RIMBlackBerry maker RIM today released Q3 08 earnings and provided insight for Q4. Q3 total revenue was up 7.9% to $2.78 billion and up 66.3% from the same quarter last year. Impressively, 2.6 million new subscribers were added in Q3. According to RIM, the revenue breakdown for Q3 was about 81% for devices, 13% for service, 2% for software and 4% other revenue. “We are pleased to report record revenue results for the third quarter and we have entered the fourth quarter with strong momentum despite the challenging general economic conditions. In fact we have enjoyed our best ever start to the holiday buying season over the past few weeks,” said Jim Balsillie, Co-CEO at RIM. The company also said that the new BlackBerry Storm is Verizon’s best seller in the US and strong sales are expected to continue despite increased competition from the Apple, Nokia, Microsoft and Google.


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Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to hercules@business2press.com
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