- Jun 26, 2007
- Reaction score
Although RIM's revenue has risen to $2.24 billion in the three months preceding May 31 - a 107 per cent increase - the first-quarter earnings were less than analysts predicted, prompting an eight per cent share price fall.
It's a sour note in an otherwise hopeful looking set of results for the BlackBerry - which is facing increased pressure from products such as Apple's iPhone.
RIM added 2.3 million subscribers - 100,000 more than they had targeted - with 60 per cent of those believed to be non-business users.
However, the $428.5 million in profits was not enough to keep the financial markets happy, and falling shares will be the headlines - despite the optimistic figures.