Research In Motion today announced its Q2 Fiscal Year 2013 results and delivered better news than expected. Revenues comes in at US$2.9 billion, up 2% over the previous quarter. Despite the better than expected revenues, RIM still recorded a net loss of US$235 million (including restructuring costs).
“Despite the significant changes we are implementing across the organization, our second quarter results demonstrate that RIM is progressing on its financial and operational commitments during this major transition,” said Thorsten Heins, President and CEO. “Subscribers grew to approximately 80 million global users, revenue grew sequentially from the first quarter, cash, cash equivalents, short-term and long-term investments increased by approximately $100 million to $2.3 billion, and carriers and developers are responding well to previews of our upcoming BlackBerry 10 platform. Make no mistake about it, we understand that we have much more work to do, but we are making the organizational changes to drive improvements across the company, our employees are committed and motivated, and BlackBerry 10 is on track to launch in the first calendar quarter of 2013.”
RIM reconfirmed that it now had 80 million subscribers and reported shipments of 7.4 million BlackBerry smartphones and 130,000 BlackBerry PlayBooks.
While the news was far better than many had expected, RIM still expects to face “continued pressure” due to “the increasing competitive environment, lower handset volumes, increased marketing expense associated with the launch of BlackBerry 10, and some impact from pressure by customers to reduce RIM’s monthly infrastructure access fees.” It predicts another loss for the next fiscal quarter.
RIM also reiterated that BlackBerry 10 remains on track for a Q1 2013 launch.
Read more: Research In Motion