RIM Beats Fiscal Q2 2013 Expectations Despite Device Sales Plunge, BB10 Phones Leak
September 27, 2012 6:00 PM
comment(s) - last by
Meanwhile BB10 footage leaks online
embattled Canadian phonemaker Researcher in Motion
, Ltd. (
), there was rare good news on Thursday. The company
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.
of 36 analysts by
showed a consensus of $2.53B USD in revenue, a prediction which
's Larry Dignan
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
of $235M USD (down from a profit of $329M USD a year ago in fiscal Q2 2012) [
]. 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 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
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
was not for official distribution.
RIM on MarketWatch
This article is over a month old, voting and posting comments is disabled
RE: Who says Jason only concentrates on bad news for RIM?
9/27/2012 8:22:26 PM
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!
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
"It looks like the iPhone 4 might be their Vista, and I'm okay with that." -- Microsoft COO Kevin Turner
RIM CEO: We Want to be in Third Place
September 26, 2012, 11:11 AM
RIM's BlackBerry 10 Phones to Get HD Display
August 16, 2012, 1:34 PM
RIM to Sell Off Recent Acquisitions to Try to Save BB10 Bid
August 14, 2012, 6:43 AM
RIM Takes Huge Loss, Lays Off 30% of Workforce, Delays BB10 Until 2013
June 28, 2012, 5:15 PM
Moto 360 to go "Champagne Gold" for $299, According to Amazon Listing
October 30, 2014, 3:24 PM
Call-capable Samsung Gear S Smartwatch Launches Nov 7 in U.S.
October 30, 2014, 12:45 PM
Lenovo Completes $2.91B Acquisition of Motorola
October 30, 2014, 11:57 AM
Samsung Electronics Q3 Profit Falls by 60%, Mobile Division Sees 74% Profit Decline
October 30, 2014, 10:10 AM
Microsoft's $199 Fitness Band Packs in 10 Sensors, Works with Windows Phone, iOS, and Android
October 30, 2014, 8:58 AM
Google’s Project Ara Modular "LEGO" Smartphone Shown Booting Up on Video
October 29, 2014, 5:28 PM
Most Popular Articles
Amid Theater Boycott Netflix Defiantly Plans New Movies, Plus 3 TV Shows for 2015
October 24, 2014, 7:30 PM
AT&T Defeats Purpose of New Apple SIM, Locks iPad Air 2 SIMs to Its Network
October 24, 2014, 2:17 PM
CVS, Rite Aid Kill Unofficial Apple Pay Support, Burn Google Wallet Users in the Process
October 25, 2014, 5:26 PM
1 Million Credit Card Activated on Apple Pay Within 72 Hours, Walmart CEO Hopes Visa "Suffers"
October 28, 2014, 8:17 AM
Microsoft's Figures Show Desktop Users Flocking to Windows 10 Preview
October 27, 2014, 11:04 AM
Latest Blog Posts
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information