RIM Q2 profit surges 67.5%

Dylan Bushell-Embling
17 Sep 2010

Research In Motion has reported a 67.5% increase in second quarter profit to $796.7 million, despite the recent threats to its market share.


Revenue was up 31% year-on-year to $4.62 billion, from the addition of around 4.5 million new BlackBerry subscribers, RIM said


This compares to net adds of 3.8 million in 2Q10 and 4.9 million in the prior quarter.


The company said it now has a subscriber base of over 50 million. Shipments were up 45% year-on-year to 12.1 million, bringing the total number of BlackBerrys shipped to around 115 million.


The result surpassed the expectations of analysts polled by Bloombergand sent its Nasdaq stock climbing 4.3% in after-hours trading.


RIM co-CEO Jim Balsillie gave a rosy forecast for the next quarter. “We expect a continuation of [Q2's] momentum in the third quarter as we extend the rollout of new products including the BlackBerry Torch into additional markets,” he said.


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