RIM has better than expected third quarter
It’s been a rough few months for Research in Motion, the Canadian makers of BlackBerry, but the news is not all bad. Their third quarter results, released on Wednesday, were better than expected. There had been fears that the never-ending patent dispute with NTP would negatively impact the business, but the effects of that battle have yet to be seen in the financials.
Net income for the quarter was $120.1 million. That’s up from $90.4 million previously. Revenues were $560.5 million, up from $365.9 million. Analysts had forecasted earnings of $549 million, so the quarter was better than expected.
There was one small note of concern in the results. Though they added 645,000 new subscribers in the quarter, that total fell 25,000 below the projections by the company at the end of the second quarter. This result caused them to lower expectations for the fourth quarter by 75,000 subscribers. The positive, though, is that this decrease is less than many analysts feared.