RIM shows better 3Q results despite legal woes
Research In Motion Ltd. - the maker of the BlackBerry wireless messaging device announced better than expected third quarter results, having in mind their long-lasting legal battle with the patent holder NTP. Net income was reported to have increased from $90.4 million to $120.1 million. Revenue rose with 53 per cent compared to the previous $365.9 million, reaching $560.5 million, which is better than the analysts' forecasts of $549 million. Reason for a concern, however, is the number of subscribers which grew to 645,000 that is about 25,000 less than projected after the company released its second quarter results. These results made RIM lower their expectations for new subscribers by 75,000 for the fourth quarter, although they maintained their forecast for increase of the earnings from 76 cents to 81 cents per share.