Research In Motion reports profits though new subscribers are less than expected

Research In Motion reports profits though new subscribers are less than expected

The makers of the popular Blackberry devices, Research In Motion have reported a profitable quarter. The company posted fourth-quarter profit of $18.4 million. however, they have added fewer numbers of new subscribers compared to expected figures from the market analysts. This led to their share prices taking a beating at the stock market.

RIM’s net income was around 10 cents a share, after a net loss of $2.57 million, or 1 cent, a year earlier. the company gained in sales, as it was up to $561.2 million in the period ended March 4. this is an improvement of around 39 percent.

The company said that they are expecting to add 675,000 subscribers in this quarter. This is below the market expectations of more than 750,000. Research in Motion added 625,000 subscribers last quarter, bringing the total number of BlackBerry users to 4.9 million.

Research In Motion has disappointed their investors in the recent times as product delays, competition from Palm Inc.’s Treo and concern over the lawsuit prompted customers to defect. However, with one of the major legal issues settled and its future in the United States pretty safe, the company can expect to grow even further in the coming months.