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The numbers aren't good, and RIM stock is taking a hit in after-hours trading on Wall Street.
Research In Motion stock was up more than 3 percent for the day, but had then slid by 6 percent by 6 p.m. ET Thursday once investors caught wind of the fact that the BlackBerry maker's revenue from its FY13 third quarter was barely more than half ($2.7 billion) what it was during the same period last year ($5.2 billion). That's a 5 percent drop from the previous quarter. As it happens, analysts were expecting this fall, so the company actually met expectations.
RIM shipped nearly 7 million smartphones last quarter. Compare that to the likes of Apple, which sells that many in the time it takes you to read this story. (OK, maybe in the first few days after a new product release).
The fact of the matter is, RIM has been swooning for years as Apple and a bevy of Android-based manufacturers have blown the competition out of the water. The company's last operating system update – BlackBerry 7 – didn't do anything to reverse RIM's fortunes, but there could be light on the horizon. BlackBerry 10 – including a pair of new touchscreen phones, most notably the BlackBerry London – is set to debut on Jan. 30, 2013.
RIM is testing the new devices at a number of U.S. companies, and wireless carriers reportedly have been pleased with their first looks at the handsets. There is a growing momentum, as evidenced by RIM's stock price – despite today's slide – which has more than doubled in three months.
RIM has hung on a little better in the enterprise segment than among general consumers, but more and more businesses are turning to BlackBerry competitors as well.
Follow editor Craig Galbraith on Twitter @Craig_Galbraith .