RIM Shares Leap as Loss Is Smaller than Expected

Thursday, 27 Sep 2012 04:51 PM

 

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BlackBerry maker Research In Motion posted another large loss in the second quarter but not as bad as analysts expected. Shares surged 18 percent in after-hours trading.

The Canadian company reported Thursday that it lost $235 million, or 45 cents a share, in its fiscal second quarter, which ended Sept 1. That compares with a profit of $419 million, or 80 cents per share, a year ago.

RIM reported revenue of $2.9 billion.

Analysts polled by FactSet expected a loss of 47 cents on revenue of $2.49 billion.

RIM said it shipped 7.4 million BlackBerry smartphones in the quarter, down from 10.6 million last year. Some analysts predicted RIM would ship about 6.4 million as the company prepares to launch new BlackBerry's deemed critical to its survival.

In trading after regular Nasdaq trading ended, RIM's shares were up $1.31 at $18.43 each. The stock gained 2 percent during regular trading.

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