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RIM posts revenue gains on BlackBerry sales

Research in Motion reported revenue gains of nine per cent in its latest financial quarter, driven by Blackberry subscriber gains and record device sales, the company said Thursday.

RIM’s revenue was US$4.62 billion for its second quarter of 2011, which ended Aug. 28, compared to revenue of $4.24 million for the second quarter of 2010. The company shipped 12.1 million BlackBerry smartphones during the period, a quarterly record for RIM and a 45 per cent increase from the year earlier.

Apple, by comparison, sold 8.4 million iPhones during the quarter that ended June 27. Google’s Android operating system shipped in 14.7 million phones during the second quarter of 2010, according to research from Canalys.

Some analysts have predicted that RIM will lose ground in the business market to Apple and Android, but its subscriber base is growing. RIM now has more than 50 million subscribers, after a net increase of 4.5 million during the quarter, the company said.

The BlackBerry sales record shows “strong demand for RIM’s portfolio of BlackBerry smartphones and services in markets around the world,” Jim Balsillie, RIM’s co-CEO, said in a statement. The company expects heavy demand as it rolls out its new Blackberry Torch to new markets, he added.

RIM started selling the BlackBerry Torch 9800, featuring a new operating system designed to be multimedia-friendly, in early August.

RIM’s net income for the latest quarter was $796.7 million, up from $768.9 million in the second quarter of its 2010 fiscal year. Diluted earnings per share was $1.46, while analysts had predicted earnings of $1.35 per share, according to Thomson Reuters.