updated 06:40 pm EDT, Wed April 2, 2008
RIM posts large profits
BlackBerry manufacturer RIM today posted its fourth quarter and year-end results for fiscal 2008, with quarterly revenue topping 1.88 billion, or a 102-percent increase from the year ago quarter. RIM boasts a user base of 14 million, 2.18 million of which were new subscribers for the quarter, or an increase of 32-percent from the previous quarter. Overall, RIM posted a 98-percent revenue increase for the year, with total revenue sitting at $6.01 billion.
"We are pleased to report another year of very strong growth with shipments of approximately 14 million BlackBerry smartphones and total revenue of $6 billion," said Jim Balsillie, Co-CEO at Research In Motion. "Heightened retail activities helped drive exceptional subscriber growth during the fourth quarter with net subscriber account additions growing more than 32% over the previous quarter and well over 2 million net subscriber accounts added in a single quarter for the first time."
"Looking forward, the prospects for RIM and the industry are more exciting than ever and we will continue to work closely with a thriving ecosystem of partners to build on our momentum during the year ahead," continued Balsillie. Revenue forecasts are expected to net approximately $2.3 billion for the first fiscal quarter for 2009, the results of which will be available May 31st, 2008.