SHARE
Facebook X Pinterest WhatsApp

RIM Surges On Strong Profits

An unexpectedly strong earnings report buoyed shares of Research In Motion Ltd. by more than 50 percent on Tuesday. The maker of the BlackBerry wireless e-mail device had reported a day earlier that revenue for its third quarter ended on November 29 rose to $153.9 million, an increase of 107 percent over the same period […]

Written By
thumbnail Matthew Hicks
Matthew Hicks
Dec 23, 2003
Channel Insider content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More

An unexpectedly strong earnings report buoyed shares of Research In Motion Ltd. by more than 50 percent on Tuesday.

The maker of the BlackBerry wireless e-mail device had reported a day earlier that revenue for its third quarter ended on November 29 rose to $153.9 million, an increase of 107 percent over the same period a year earlier. Its profits increased to $16.3 million, or 20 cents per share, compared to a loss of $92.8 million, or $1.21 a share, a year earlier.

The Waterloo, Ontario-based company’s results were well ahead of estimates from financial analysts. They had expected earnings of 17 cents per share on revenues of $146.3 million for the quarter.

Jim Balsillie, RIM’s chairman and co-CEO, credited the strong showing to higher-than-expected subscriber growth for its mobile services. The company revised upwards its revenue estimates for the fourth quarter of fiscal 2003 and the first quarter of fiscal 2004, helping to send its stock price soaring to a close of $69.61 a share on Tuesday.

“RIM completed another successful quarter marked by strong performance and a multitude of BlackBerry launches around the world,” Balsillie said in a statement.

RIM now expects revenue in the fourth quarter to be between $195 million to $210 million, with first quarter revenue falling between $220 million and $240 million.

RIM also announced on Monday that it had signed a global agreement with Sony Ericsson Mobile Communications AB in its BlackBerry Connect licensing program. That program allows mobile device makers to integrate into their handsets the ability to connect to the BlackBerry Enterprise Server and BlackBerry Web Client services. RIM said further product details from the agreement would be announced later.

A new deal between PalmOne and RIM will let handheld users take advantage of Palm’s multimedia features and the BlackBerry’s e-mail prowess. Still, RIM’s PocketPC licensees aren’t standing still. To read more, click here.

Recommended for you...

How ArmorPoint is Unifying Security for MSSPs & Customers
Victoria Durgin
Sep 15, 2025
Tenable: AI and Hybrid Cloud Growth Outpacing Security Defenses
Luis Millares
Sep 15, 2025
Report: Security Teams are Drowning in Alerts, Turning to AI
Jordan Smith
Sep 12, 2025
Mitel Appoints Mike Robinson as CEO
Jordan Smith
Sep 11, 2025
Channel Insider Logo

Channel Insider combines news and technology recommendations to keep channel partners, value-added resellers, IT solution providers, MSPs, and SaaS providers informed on the changing IT landscape. These resources provide product comparisons, in-depth analysis of vendors, and interviews with subject matter experts to provide vendors with critical information for their operations.

Property of TechnologyAdvice. © 2025 TechnologyAdvice. All Rights Reserved

Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.