Research In Motion today announced its fiscal Q2 2011 results and the manufacturer beat market expectations handily. While analysts expected revenues of US$4.47 billion, RIM posted revenues of US$4.62 billion (a 31 year-over-year increase). Earnings per share jumped 76 percent to US$1.46 over the same qarter last year. RIM also set a new shipment record, shipping over 12.1 million BlackBerry devices during the quarter.
“This accomplishment and RIM’s solid financial results during the second quarter were driven by effective business execution and strong demand for RIM’s portfolio of BlackBerry smartphones and services in markets around the world,” said Jim Balsillie, Co-CEO at Research In Motion. “We expect a continuation of this momentum in the third quarter as we extend the rollout of new products including the BlackBerry Torch into additional markets and benefit from heavy promotional activities and increasing customer demand as we head into the holiday buying season.”
RIM now has over 50 million subscribers, a growth of about 56 percent over the prior year.
RIM continues to be under considerable pressure from rivals Apple and Google with their iPhone and Android devices. It is expected to respond with the announcement of the BlackBerry Bold 9780, the BlackBerry Style 9670 and the BlackPad tablet before the end of the year.