Blackberry maker RIM posts $235 million loss
September 29 , 2012
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.