RIM ain’t dead yet, folks. No sir-y Bob.
After a better-than-expected Q2 earnings call yesterday, RIM shares are surging, up 15% in pre-morning action. Granted, the stock still sits at under $10 a share, and RIM as a whole is still a wounded soldier on the mend, but for the first time this year, analysts have something positive to say.
The truth lies in the numbers:
RIM lost $235-million (U.S.) or 45 cents a share in the quarter, slumping from a profit of $329-million or 63 cents a year earlier, but that was better than investors expected. Revenue fell to $2.9-billion from $4.8-billion, but that stil came in above the estimates. RIM also shipped some 7.4 million BlackBerrys and 130,000 PlayBook tablets, and the number of its global subscribers rose to 80 million.
As everyone knows, the future of RIM rides solely on the user adoption of their forthcoming BlackBerry10 OS platform. However, for the most part, response to demonstrations have been positive; especially from developers, who have been given a bevy of tools and support as they work to build out apps to be ready for launch time.
Overall, despite pressures, RIM CEO Thorsten Heins has kept a cool head and positive outlook on the situation. RIM essentially got a pass on Q2 as investors, consumers, and analysts all await the launch of BlackBerry 10 in 2013.
[via the Globe and Mail]