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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: RIM net profit, revenue up in third quarter AFP - 53 minutes ago MONTREAL (AFP) - - Canada's Research in Motion Ltd. (RIM), maker of the popular Blackberry, reported a quarterly net profit on Thursday in line with the expectations of analysts and stronger-than-expected revenue growth. The Waterloo, Ontario-based RIM reported a net profit of 396.3 million US dollars in the quarter ending in November, up slightly more than seven percent from the third quarter last year. Despite the economic slowdown, revenue soared to 2.78 billion dollars in the period, up 66 percent from a year earlier, RIM said in a statement, mostly due to 2.6 million new Blackberry subscribers. The company said it shipped 6.7 million devices in the quarter. "We are pleased to report record revenue results for the third quarter and we have entered the fourth quarter with strong momentum despite the challenging general economic conditions," co-chief executive Jim Balsillie said. "In fact we have enjoyed our best ever start to the holiday buying season over the past few weeks," Balsillie said in a statement. "RIM launched an unprecedented number of BlackBerry smartphones in the third quarter and these new products are being adopted at an even faster pace than we expected," he said. "Our industry leading product portfolio is positioned well to capitalize on the increasing market opportunity in the fourth quarter of fiscal 2009 and beyond." RIM released its first touch-screen smartphone, the Blackberry Storm, during the quarter and a new version of its Blackberry Pearl. RIM's results were eagerly anticipated by analysts as a bellwether for the highly competitive cellphone market in a slow economy. RIM forecast fourth-quarter revenue of between 3.3 billion dollars and 3.5 billion dollars with earnings per share between 83 cents and 91 cents based on a gross margin of 40-41 percent. RIM's share price has lost about 70 percent of its value since June after failing to meet the expectations of analysts during the first two quarters of its fiscal year. In after-hours trading in New York, RIM was up 0.68 percent at 38.70 dollars. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Technology Accenture reports strong quarterly resultsAFP - 51 minutes ago RIM net profit, revenue up in third quarterAFP - 53 minutes ago Wireless carriers boost networks for Obama inaugurationAFP - 2 hours 14 minutes ago US firms join forces to build lithium ion batteries for carsAFP - Friday, December 19 China court orders compensation in Internet harassment caseAFP - Friday, December 19 Enlarge Photo The Blackberry Storm is seen in this handout image courtesy of Verizon Wireless. Canada's Research in Motion Ltd. (RIM), maker of the popular Blackberry, reported a quarterly net profit on Thursday in line with the expectations of analysts and stronger-than-expected revenue growth. Most Popular – Technology Viewed Actress Jennifer Aniston appears naked in GQ magazine 'Dark energy' expands, contracts universe: researchers US doctors hail near-total face transplant Dollar dives to 13-year low against yen after Fed cut Chrysler halts manufacturing as clock ticks on gov't bailout View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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