Published in News
RIM posts earnings
Fiscal year revenue increases 98% over last year
Research In Motion Limited (RIM), the manufacturer of the BlackBerry smartphone and leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market, reported its results for its Q4 and 2008 fiscal year that ended March 1, 2008.
Q4 revenue was US$1.88 billion, up 102% over its Q4 for 2007. Fiscal year revenue was $6.01 billion, a 98% increase over its revenue of $3.04 billion last year. RIM reported that nearly 2.18 million net BlackBerry subscriber accounts were added during the fourth quarter, bringing the number of total BlackBerry subscriber accounts to over 14 million users. In the fourth quarter alone, RIM shipped nearly 4.4 million smartphones, and during fiscal year 2008 approximately 14 million smartphones.
Jim Balsillie, Co-CEO at RIM issued a statement that said, "We are pleased to report another year of very strong growth with shipments of approximately 14 million BlackBerry smartphones and total revenue of $6 billion. Heightened retail activities helped drive exceptional subscriber growth during the fourth quarter with net subscriber account additions growing more than 32% over the previous quarter and well over 2 million net subscriber accounts added in a single quarter for the first time. Looking forward, the prospects for RIM and the industry are more exciting than ever and we will continue to work closely with a thriving ecosystem of partners to build on our momentum during the year ahead."
Revenue for the Q1 of fiscal 2009 (which ends May 31, 2008) is anticipated to be approximately $2.5 billion, with new subscriber account additions of about 2.2 million.