RIM sells its 100 millionth BlackBerry, reports solid Q1 earnings

By on June 25, 2010, 9:30 AM
You may not hear about BlackBerry maker Research In Motion as often as Apple or Google these days, but the company trumped analysts' expectations yesterday, reporting a net income of $768.9 million ($1.38 per share) on revenue of $4.2 billion for the first quarter of 2010, up 41% and 24% on-year.

According to RIM's recent earnings report, the company shipped its 100 millionth BlackBerry during the opening quarter of this year, with total sales skyrocketing 43% to 11.2 million. The company witnessed a 60% growth in BlackBerry users, adding 4.9 million new accounts and closing the first quarter with 46 million subscribers about 40% of which reside outside North America.

Going forward, RIM predicts a second-quarter revenue from $4.4 billion to $4.6 billion, with earnings landing somewhere between $1.33 and $1.40 a share. New subscribers are expected to pile in at a similar rate to the first quarter, and possibly as high as 5.2 million.

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