Research In Motion’s (RIM) Stocks Soar even with Apple Competition
It looks like RIM’s margin squeeze just may be ending as a report has indicated that profitability over the coming months will begin to rise for BlackBerry smartphone maker Research In Motion.
According to a post over at businessweek, RIM has stated they earned $518 million as sales jumped to $3.46 billion for fiscal 4th quarter results. RIM has also forecast sales and profit to exceed analyst’s expectations for the current quarter.
The better results along with upbeat forecasts go a long way to lessen concerns that Research In Motion was sacrificing profit in their battle against the Apple iPhone. RIM stock jumped in extended trading when results were put out from 11.06 up to 60.15 after closing at 49.90.