Tech Stock Breaking News: Research In Motion (RIMM) Second Quarter Results Start a Rally
Category: Investment, Technology
News about Research In Motion
New York, NY - September 28, 2012 (Investorideas.com newswire, www.techsectorstocks.com) Investor Ideas, a global investor research portal for independent investors, issues a tech stock trading alert for Research In Motion Limited (NASDAQ: RIMM), (TSX:RIM) following second quarter results that were better than the street expected. Investors love an underdog that performs and the market pre-open is seeing a surge in the stock price. The stock is up over 15% before the bell from its close of $7.14.
- BlackBerry subscriber base increased to approximately 80 million global subscribers
- Cash, cash equivalents, short-term and long-term investments increased by approximately $100 million to $2.3 billion at the end of the second quarter
- Cash flow from operations was approximately $432 million in the second quarter
- Revenue of $2.9 billion in Q2, up 2% from $2.8 billion in Q1
- GAAP net loss in Q2 of $235 million, or $0.45 per share diluted, including $136 million in pre-tax restructuring costs; adjusted net loss of $142 million, or $0.27 per share diluted
- Shipments of BlackBerry smartphones were 7.4 million and shipments of BlackBerry PlayBook tablets were approximately 130,000
About Research In Motion
Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry(R) solution in 1999. Today, BlackBerry products and services are used by millions of customers around the world to stay connected to the people and content that matter most throughout their day. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in North America, Europe, Asia Pacific and Latin America. RIM is listed on the NASDAQ Stock Market (RIMM) and the Toronto Stock Exchange (RIM.TO). For more information, visit www.rim.com or www.blackberry.com.
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