TORONTO – Research In Motion (TSX:RIM) beat expectations in its latest results as it reported a third-quarter profit of $9 million.
The profit amounted to two cents per share for the three months ended Dec. 1, compared with a profit of $265 million or 51 cents per share a year ago. Revenue totalled $2.73 billion, down from $5.17 billion.
On an adjusted basis, RIM said it lost $114 million or 22 per diluted share.
Analysts expect a quarterly loss of 32 cents per adjusted share on revenue of $2.6 billion
The results come as RIM prepares to unveil a new line of smartphones running its latest operating system next month.
The launch will see the smartphone pioneer enter the most important months of its history — ones that will likely determine whether RIM survives in its existing form.
The company shipped 6.9 million BlackBerry smartphones for the quarter and 255,000 BlackBerry PlayBook tablets, while the subscriber base slipped to 79 million from 80 million in the second quarter.