RIM posts $6 billion revenue for fiscal 2008
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.
Fresh-Faced Recruit
Joined: Sep 2001
short it
"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,"
Looking forward, iPhone is going to eat RIM's lunch. Or toss its salad. Or something like that.
Time to go short on RIM.