Research In Motion reports improved profits

Research In Motion reports improved profits

Research in Motion has come out with their latest revenue reports. The company said that its fiscal third-quarter earnings rose 47 percent.

The company further said that they have added on 875,000 subscribers for the period.

Earnings were up at $176 million which comes to around 93 cents per share. They had posted earnings of $120.1 million, or 61 cents per share in the same period last year.

Market analysts had expected the company to post 94 cents per share.

The revenues for the company were up 49 percent to $835.1 million from $560.6 million during the same period a year ago. This was better than analysts’ expectations of $815.9 million. Jim Balsillie, chairman and co-chief executive of Research in Motion spoke on this improved performance: “We are extremely pleased with the strong revenue and subscriber account growth achieved in the third quarter.”

Balsillie added: “New product launches during the past few months have exceeded our expectations and we look forward to continuing this momentum into the New Year.”