Friday, June 29, 2012
RIM’s Q1 2013 Results: $518 Million Loss On $2.8 Billion In Revenue, BlackBerry 10 Launch Pushed To 2013
RIM has just released their fiscal Q1 2013 financials, and they’re about as bleak as the company expected. The Canadian company reported a net GAAP loss of $518 million (which breaks down to $0.99/share diluted) on revenues of $2.8 billion. To put that in a bit of perspective, RIM reported a net loss of $0.24/share diluted (or $125 million) on $4.2 billion in revenues in Q4 2012. Meanwhile, analysts expected RIM to report a net loss of $0.03/share on revenues of $3.1 billion in the days leading up to the release. The company also reported that despite their longstanding claims to the contrary, the first BlackBerry 10 smartphone isn't expected to see the light of day until the first quarter of calendar 2013.