RIM’s loss of USD $ 114 million in the last three months, just before BB10
The challenges of designing and delivering a new mobile operating system has been more complex than budgeted for Research In Motion. After delays of BB10 and the slowdown in sales of equipment based on BB7, RIM today announced that – while its gain versus the same quarter last year decreased by 47% – over the last quarter recorded losses of USD $ 114 million, including after scoring USD $ 2,730 million in revenue. This results in a loss of value per share of $ 0.22.
During this past quarter, RIM sent 6.9 million phones and 255,000 PlayBook. They also lost a million subscribers of services … 79 million versus 80 million reported in September.
Oh, and making this announcement, RIM also announced that its Chief Information Officer – Robin Bienfait – is leaving the company after six years working on it. Bienfait was responsible for the development of data infrastructure to support the platform, and today begins a work of external consultants to facilitate the transition to BB10.
Yes, they are losing money. Yes, they lost a million subscribers in recent months. But also have some reason to celebrate in Waterloo since these results are far better than those budgeted various specialized financial analysts.
We can not say that the crisis has passed … Nothing is further from the truth. However, RIM is now in a slightly more expectant face to face what is perhaps the most important release in history … One who can define if this story continues as we know it.Tags: BB10, BB7, Economic Performance, finance, Playbook, Q3, Research In Motion, RIM, Robin Bienfait