Posted: September 17th, 2010.
Research In Motion (NASDAQ : RIMM) has had a fantastic second quarter that beats Wall Street expectations. The company has reported earnings growth of 68% for the quarter ending August 28. The net income generated in the period was $796.7 million that is significantly above the $475.6 million made during the same period last year. In terms of revenue, the company made $4.62 billion that is a 31% jump over Q2 2009.
In comparison, analysts expected revenues to stay close to $4.49 billion which equates to earnings of $1.36 per share. The current earnings per share is $1.46 per share.
Apparently, the strong performance has come despite the moderate reception to RIM’s latest Blackberry Torch smartphone. The touchscreen phone was launched in early August and has only been available on the AT&T network and so has not had great bearing on the results. Consequently, the performance of RIM underlines the overall growth of the company and not something that has been influenced by the fluke success of any particular model.