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Meanwhile BB10 footage leaks online

For embattled Canadian phonemaker Researcher in Motion, Ltd. (TSE:RIM), there was rare good news on Thursday.  The company announced its fiscal Q2 2013 results, and they handily beat the average analyst consensus.

Coming into the earnings report a mood of gloom and doom was pervasive, with many predicting the quarter to be a final nail in the tentative coffin for the smartphone maker.  A poll of 36 analysts by Financial Times showed a consensus of $2.53B USD in revenue, a prediction which ZDNet's Larry Dignan described as "ugly", remarking, "[A]  miss wouldn't surprise anyone." 

But instead there was a surprise: RIM defying the odds and posting significantly better-than-expected financials.  RIM's actual revenue was $2.9B USD -- blowing past the analyst average by almost 15 percent.

That still was only good for a (GAAP) net loss of $235M USD (down from a profit of $329M USD a year ago in fiscal Q2 2012) [1][2].  However, that's substantially better than the $518M USD loss RIM posted a quarter ago.

The smaller loss comes largely thanks to RIM's downsizing and "efficiency" efforts, which involved laying off nearly a third of its workforce.  

RIM Sign
RIM beat analyst expectations despite lower device sales. [Image Source: BGR]

On the device unit sales front the news wasn't so pretty.  

Sales of the PlayBook tablet slumped to around 130,000 units amid SKU cuts -- down substantially from the 260,000 units sold last quarter and also down from 200,000 moved in fiscal Q2 a year ago.  Likewise smartphone sales dropped, with 7.4m BlackBerries moving this quarter, compared to 7.8m in fiscal Q1 2013 and 10.6m in fiscal Q4 2012.

More importantly thanks to sales of certain assets RIM increased its cash pile to $2.3B USD.  The bad news there is simply that RIM is selling off assets and may not be able to keep pace with losses unless its next generation smartphones win back buyers.

Speaking of which, video of RIM's upcoming BlackBerry 10 handsets has (supposedly) leaked, courtesy of a video editor (Rob Jury) hired to edit the clip.



The above video shows the L series (full-touch) and the N series (QWERTY).  The film reportedly was not for official distribution.

Sources: RIM on MarketWatch, CrackBerry



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By retrospooty on 9/27/2012 6:31:04 PM , Rating: 2

"that still was only good for a (GAAP) net loss of $235M USD (down from a profit of $329M USD a year ago in fiscal Q2 2012) [1][2]. However, that's substantially better than the $518M USD loss RIM posted a quarter ago."


Clearly this is good news. They has more revenue than expected and therefore in the end, they lost less than expected. Hey expecting to lose 518 mill, and only losing 235 mill is a win for RIM LOL.




By Pirks on 9/27/2012 7:17:06 PM , Rating: 3
I agree, looks like Mick read my feedback from yesterday and significantly cut down on trolling, it's way less than 90% like yesterday. Much more substance and facts too. Good job Mick, keep it up.


By retrospooty on 9/27/2012 7:23:58 PM , Rating: 2
LOL...

Yay, we are losing less than you thought we would lose.

Were #3 , Were #3, Were#3.


By Reclaimer77 on 9/27/2012 7:30:29 PM , Rating: 2
Not that I agree with ANY point of view of Pirks....but as much as Mick makes RIM look like a disaster, the fact is they sold like three times more phones as his beloved Windows Phone last year, and they still have more marketshare lol.


By Pirks on 9/27/2012 7:42:25 PM , Rating: 2
There's nothing bad in agreeing with a person who's smarter than you Reclaimer, so don't be ashamed :P

And yeah Windows Phone is a sad joke in market share, true, but this may change if MS leverages similarities between WinRT, Win8 and WP8. This three screens strategy might just work in the end, who knows?

Besides, only now with WP8 MS has developed a solid phone OS, not a joke that WP7 was. With such architecturally solid contenders as WP8 and BB10... well, I don't have much hope for Android world domination anymore. But we'll see, we'll see, 2013 is going to be very very interesting year. War between closed ecosystems of Apple/MS/RIM and open ecosystem of Google is gonna be fun to watch.

Man I don't even know who to root for anymore, they all look so good now even Android is not as ugly as it's used to be.

Tough choice.


By Pirks on 9/27/2012 9:14:44 PM , Rating: 1
Boring, clown, booorinnn
Try harder to entertain me :)))


By Belard on 9/28/2012 2:49:37 AM , Rating: 2
Look! A new RIM phone in the same of a dildo!

No way Apple will sue them!


By othercents on 9/28/2012 9:06:33 AM , Rating: 2
quote:
No way Apple will sue them!


That's an interesting comment especially since even if Apple couldn't win they might cause enough financial damage to close RIM for good if they preemptively sued RIM for making a rectangular device with rounded corners. This is all dependent on RIM not already having an agreement with Apple or RIM might already have evolutionary prior art coming from the pagers which were rectangular with rounded corners.

Other


By Pirks on 9/27/2012 8:22:26 PM , Rating: 2
quote:
we are losing less than you thought we would lose
You have to begin somewhere retro

I gonna enjoy watching you crying and whining every time improving RIM financials will be posted in the future. Now you say OMG RIM is losing less! Then you'll switch to OMG RIM is not earning enough!

LOL :)))

Keep whining and BSing, that's always fun to watch. I'll enjoy your grim predictions even more in the future. You and Mick will have fun finding excuses explaining why your predictions have failed. Can't wait to watch how you jump around and wiggle your way out just like you did yesterday with that 90% troll post :))) I love watching jumping clowns trying to find exit from the cage they put themselves in you know :P


By Decom on 9/28/2012 8:40:07 AM , Rating: 1
quote:
looks like Mick read my feedback from yesterday and significantly cut down on trolling, it's way less than 90% like yesterday


Telling it like it is doesn't equate with trolling. Give the Mick bashing a rest, if he we're trolling do you not think more people would be calling him out on it.

RIM only has the Marketshare it has due to the locked in corporate environment in which most RIM handset owners function. Both mine and several friends are "RIM-locked" (trademark pending) in our workplaces, given a choice we'd all be on a different platform.
As far as the consumer space is concerned I can't see any obvious reason to purchase a RIM smartphone over iOS/Android/WP.
RIM's strategy of we're coming, we're coming soon, maybe generating a feeling of nostalgia in a small percent of people to go back and try them when BB10 is released, however having seen the clusterfuck WP/Nokia got into by punting down the road and being extremely late to market they should have got their game face on and pushed like crazy.
By the time BB10 and decent handsets get out RIM could very well have missed the boat and be a fading memory.


By Pirks on 9/28/2012 1:41:27 PM , Rating: 2
quote:
As far as the consumer space is concerned I can't see any obvious reason to purchase a RIM smartphone over iOS/Android/WP
You will when BB10 is out


By Decom on 9/29/2012 11:23:41 AM , Rating: 2
quote:
quote: You will when BB10 is out


You just proved my point.
All of this "when it comes out" nonsense has proved to be detrimental to a company's bottom line. Every month it is kicked down the road is potentially millions of lost users, what are Android/iOS smartphone activations per month running at anyway?

Living in the here and now, RIM have a skewed marketshare because of the corporate "RIMlocked" users who have no choice.

I personally hope that BB10 rocks ass, but that's all I can do "now" because it still isn't here. The more options we users have the better in my book.


By Pirks on 9/29/2012 1:57:54 PM , Rating: 1
quote:
what are Android/iOS smartphone activations per month running at anyway?
iOS are often just a replacement of the older iOS device that got broken or something so these are not new users, rather Macolytes refreshing their hardware, and Android is mostly cheap 2.x crap that is light years behind BB10 and Playbook OS in usability, speed and comfort. I used both Playbook OS and Android 2.3 and I realty really enjoyed how much RIM is ahead of unusable stinky shite Google pushes out. Only Android 4.1 got any close to new RIM OSes but how many phones are sold with it right now? Hehee you have no idea what stats you're talking about, do your homework.


By Decom on 9/30/2012 12:50:11 PM , Rating: 2
quote:
Hehee you have no idea what stats you're talking about, do your homework.


Maybe I wasn't as concise as I should have been. I should have stated new iOS/Android/WP user activations, not people on an upgrade path within the same ecosystem.
My point is that every one of these is a potential lost sale to RIM, because they " have not " got a top tier platform in the here and now.
RIM will be a faded star by the time BB10 comes out, with all but the diehards willing to give it a go for some nostalgic reason, meanwhile here in the real world of rampant consumerism the other big 3 will have pulled out such a gap on RIM that they will be playing catch up to not just Jelly Bean,WP8 and the like but the next iterations of these platforms.
RIM screwed the pooch on this one and are paying/will be paying for this for some time to come.


"Folks that want porn can buy an Android phone." -- Steve Jobs














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