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
9/28/2012 12:12:50 PM
Announcing they were delaying BB10 had to put a huge hit on sales. Why buy, when your phone will be obsolete really soon.
"Well, we didn't have anyone in line that got shot waiting for our system." -- Nintendo of America Vice President Perrin Kaplan
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
Air Force Expects to Save Over $50 Million in 10 Years by Using iPads
May 17, 2013, 12:26 PM
Former Intel CEO Regrets Passing Up on iPhone Gravy Train
May 17, 2013, 11:46 AM
Intel-Based Lenovo Yoga 11 Lands, is $240 USD More Expensive Than ARM Version
May 17, 2013, 11:02 AM
Galaxy S IV Looks to Hit 10 Million Sales in Just Four Weeks
May 17, 2013, 10:12 AM
Nintendo Wii U: No EA Games for You!
May 17, 2013, 8:35 AM
Quick Note: CyanogenMod Hits 5 Million Users
May 16, 2013, 1:42 PM
Most Popular Articles
Report: Microsoft Eyes Return to "Dying" Windows 7 Path After Windows 8 Flop
May 13, 2013, 9:50 AM
Bill Gates Gets Teary-Eyed While Discussing Steve Jobs, Shows Off Life-Saving Tech on 60 Minutes
May 13, 2013, 12:30 PM
Windows 8.1 Will Be Free; Microsoft Holds Onto Struggling ARM Variant
May 14, 2013, 2:57 PM
Google Announces "Pure" Galaxy Nexus S4 for $649, Android Updates
May 15, 2013, 1:42 PM
U.S. Federal Traffic Board Wants to Make Drunk Driving Threshold Far Harsher
May 15, 2013, 11:32 AM
Latest Blog Posts
Parents of Pre-Teen Drivers Commonly Practice Distracted Driving Says Study
May 9, 2013, 7:16 AM
Apple's iOS 7 Running Into Internal Delays Due to Massive Overhaul
May 1, 2013, 4:26 PM
Elon Musk Willing to Spend More Money on Widening of 405 Freeway
Apr 26, 2013, 7:28 PM
New $100 Bill Due in October
Apr 24, 2013, 11:52 PM
Volkswagen Shows off iBeetle in Shanghai
Apr 22, 2013, 9:29 PM
More Blog Posts
Copyright 2013 DailyTech LLC. -
Terms, Conditions & Privacy Information