RIM delivered a mixed bag of news in its latest quarterly earnings, prompting the phone maker’s stock to drop on Thursday by some 17 percent. The so-so report reignited fears that RIM will remain a marginal company, even if its upcoming BlackBerry 10 OS is a blockbuster success. In some respects, the results for RIM’s fiscal Q3 were fairly stable, considering the company’s challenges. It earned a $9 million profit and increased its cash hoard by $600 million to $2.9 billion. However, for the same period last fiscal year, it posted a profit of $265 million.
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RIM Takes a Beating on Flabby Q3 Report
Posted by: Erika Morphy December 21, 2012 10:39 AMRIM delivered a mixed bag of news in its latest quarterly earnings, prompting the phone maker’s stock to drop on Thursday by some 17 percent. The so-so report reignited fears that RIM will remain a marginal company, even if its upcoming BlackBerry 10 OS is a blockbuster success. In some respects, the results for RIM’s fiscal Q3 were fairly stable, considering the company’s challenges. It earned a $9 million profit and increased its cash hoard by $600 million to $2.9 billion. However, for the same period last fiscal year, it posted a profit of $265 million.