New RIM CEO releases his first earnings report

By: Associated Press Email
By: Associated Press Email

BlackBerry maker Research in Motion says it had a net loss in the latest quarter because of writedowns for the declining value of its brand and its PlayBook tablet inventory. Its adjusted income was slightly short of Wall Street expectations.

RIM had a net loss of $125 million, or 24 cents a share, in the quarter that ended March 3. This compares with $934 million, or $1.78 per share, a year ago.

Adjusted income was 80 cents per share. Analysts polled by FactSet were expecting 81 cents.

Revenue fell 25 percent to $4.2 billion from $5.6 billion.

Thorsten Heins assumed the top job in January at a time when Americans are abandoning their BlackBerrys for flashier touch-screen phones like Apple's iPhone and models that run Google's Android software.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WNDU - Channel 16 54516 State Road 933 South Bend, IN 46637 Front Desk: 574-284-3000 Newsroom: 574-284-3016 Email:
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 145209305 -
Gray Television, Inc.