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RIM Earnings Solid on Good Sales, Profit News

Research in Motion, the maker of the BlackBerry line of smartphones, beat earnings estimates in its first fiscal quarter of the year.

The big reason why?: The company sold nearly 8 million BlackBerrys, remaining the clear leader in the smartphone market in terms of quantity sold. However, some data shows Apple’s iPhone and the new Palm Pre are making some strides in the marketplace.

The day belonged to the BlackBerry, though, as RIM’s revenue was more than $3.4 billion, up more than 50 percent from the same quarter in 2008. And despite the economy, RIM was able to nab 3.8 million new subscribers, down only slightly from the previous quarter.

RIM’s stock price was down a little less than 1 percent Thursday. The earnings news wasn’t released until close to the end of the trading session.


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