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Blackberry maker RIM posts $235 million loss

  • Research In Motion (RIM) posted a smaller-than-expected quarterly loss on Friday, sending its shares up nearly 18 percent in after-hours trading.

    The maker of the Blackberry reported a net loss of $235 million for the second quarter, compared with a profit of $329 million for the period last year.

    Excluding one-time restructuring items, the loss was $142 million.

    RIM shipped 7.4 million Blackberry smartphones in the quarter and 130,000 BlackBerry PlayBook tablets.

    RIM also increased its cash reserve to about $2.3 billion from $2.2 billion, which could be key to a successful launch of its new line of smartphones that will run on its new Blackberry 10 operating system.