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July 25, 2008 10:09:05 PM CDT

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BlackBerry Maker Sees Earnings Soar by 54%

Posted Apr 3, 08 6:53 AM CDT in Business,  Technology 

(Newser) – Strong North American sales helped Research in Motion to a 54% fourth quarter earnings increase, despite a global economic slump, reports the Wall Street Journal. The BlackBerry smartphone maker said quarterly sales doubled to $1.88 billion. RIM yesterday also projected first-quarter sales of $2.3 billion, topping analysts' estimates of $2.01 billion. RIM stock rose 4.8% in after-hours trading.

RIM added 2.2 million subscribers in the fourth quarter and said it expects another 2.2 million to add service in the first quarter. Experts say much of the growth can be attributed to RIM moving outside its traditional business market to general consumers, reports Bloomberg. BlackBerries make up the largest portion of the smartphone market with a 41% share to Apple’s 28%.

Sources Wall Street Journal, Bloomberg

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A Blackberry displays the Microsoft homepage in a downtown Toronto office.   (AP Photo)
A BlackBerry Pearl is pictured at the CTIA wireless show at the Las Vegas Convention Center, April 2, 2008. Research In Motion Ltd. says its fiscal fourth-quarter profit and sales more than doubled.   (AP Photo/Isaac Brekken)
A BlackBerry Pearl is pictured at the CTIA wireless show at the Las Vegas Convention Center on Wednesday, April 2, 2008 in Las Vegas.   (AP Photo/Isaac Brekken)
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cell phones  • corporate earnings  • BlackBerry  • smartphones  • Research In Motion


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