RIM Earnings Are up but Disappoint Analysts

Research In Motion is still on top in North America and growing around the world, but its quarterly results disappointed analysts who worry about the tough competition the company faces.

RIM's revenue for the quarter ended Feb. 27 was US$4.08 billion, up 18 percent over the same period last year. That disappointed analysts, who were expecting $4.31 billion in revenue, according to those polled by Thomson Reuters.

Net income for the quarter was $710.1 million, up from $518.3 million in the same quarter last year.

RIM shipped 10.5 million phones in the quarter, for a total of 37 million during its full fiscal year. That made the BlackBerry the number-one selling smartphone in the U.S. at the end of calendar 2009, RIM said. Total BlackBerry subscribers reached 41 million at the end of the quarter, up from 36 million at the end of the previous quarter, the company said.

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