RIM announced results for the quarter ending August 27, 2011

RIM announced results for the quarter to 27 August 2011 income of US$329 million for the period, on revenue of US$4.17 billion.
During the quarter, the company shipped around 10.6 million BlackBerry smartphones. Shipments of the company’s new BlackBerry 7-powered smartphones were said to be “near the high end of expectations.”
Mike Lazaridis, co-CEO of RIM, said that development of devices powered by RIM’s next-generation QNX platform is going “extremely well,” and that, at launch, products will have the “features, industrial design and content and app ecosystem needed to deliver a dynamic and industry leading customer experience.” According to reports, the company is looking to speed these products to market, in order to reinvigorate the BlackBerry product line. On a positive note, the company said that its service revenue passed US$1 billion for the first time. The BlackBerry subscriber base grew by 40 percent year-on-year, to pass 70 million.
Looking forward, RIM said that revenue for the third quarter (to 26 November) is expected to be in the US$5.3 billion-US$5.6 billion range, with shipments of between 13.5 million-14.5 million. This represents a forecasted BlackBerry shipment growth of 27 percent-37 percent quarter-on-quarter. The company also invested approximately US$780 million through its membership of the bidding consortium which won the auction to acquire the patent portfolio of Nortel Networks. Due to this transaction, it shelved its share repurchase programme during the period – it said that this will be “commenced at our discretion.”