RIM reports solid Q3 financials
Late yesterday Research In Motion reported its fiscal year Q3 earnings, which fell in line with analysts' expectations. Revenue was up 7.9% from Q2 to US$2.78 billion, and up an impressive 66.3% from the $1.67 billion figure posted at this time last year. RIM states that 81% of this past quarter's revenue came from handset sales, with the remainder coming from software and service fees.
Those revenue figures lead to $477,296 in adjusted net income, translating to a diluted adjusted earnings per share figure of $.83. RIM says that it added 2.6 million new BlackBerry subscribers in the quarter, which marks a 14% increase from the prior quarter and gives RIM a total of roughly 21 million subscribers.
Palm posts quarterly loss, talks of new platform
Yesterday Palm released its Q2 results for its fiscal year 2009 business operations. In addition to the financials, though, Palm's CEO announced that it will officially unveil its next generation Linux based operating system, dubbed Nova, at its press conference at the 2009 International Consumer Electronics Show in Las Vegas. The Palm CES press conference is scheduled to take place on Thursday, January 8th, and BusinessWeek reported earlier in the week that the new Palm Nova OS would be announced at that time. Palm has said that the first products to feature the new platform will be launched in the first half of 2009 and that it will continue to produce Windows Mobile powered smartphones for business users for the foreseeable future.
In terms of its financial performance, Palm posted US$191.6 million in revenue for the quarter. The company moved 599,000 smartphones, which is down 13% from the previous year's figure. Smartphone revenue came in at $171 million, which is down 39% from the prior year.
Palm posted a net loss of $508.6 million for the quarter, the majority of which, $396.7 million, was attributed to a charge associated with the change in status of some deferred tax assets.
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