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What: Shares of BlackBerry maker Research In Motion
So what: Revenue fell 31% to $2.9 billion, which resulted in an adjusted net loss of $142 million, or $0.27 per share. As lousy as that sounds, the figures managed to beat analyst estimates, which were looking for just $2.5 billion in sales and a loss of $0.46 per share. The Canadian company shipped 7.4 million BlackBerry smartphones and 130,000 PlayBook tablets.
Now what: BlackBerry subscribers have reached an all-time high of 80 million, and RIM was able to increase its cash position to $2.3 billion and assuage investor fears about its cash-burn rate. The company has already stopped providing specific financial guidance but expects next quarter to be tough as well. Everything continues to ride on the success or failure of its next-generation platform, BlackBerry 10, which remains on track for release in early 2013.
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Fool contributor Evan Niu holds no position in any company mentioned. Check out his holdings and a short bio. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days. The Motley Fool has a disclosure policy.