RIM sells its 100 millionth BlackBerry, reports solid Q1 earningsBy Matthew DeCarlo
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.