Print 22 comment(s) - last by Decom.. on Sep 30 at 12:50 PM

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 Pirks on 9/28/2012 1:41:27 PM , Rating: 2
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: 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
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
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.

"Young lady, in this house we obey the laws of thermodynamics!" -- Homer Simpson

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