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RIM Q3-FY13: Profit Declines 97% YoY To $9M; 1M BlackBerry Service Subscribers Leave

BlackBerry maker, Research In Motion- RIM, has declared its financial results for the quarter ended December 1, 2012. The company reported revenues of $2.7 billion, down 4.68% from $2.9 billion in the previous quarter and down 47.2% from $5.2 billion in the same quarter of fiscal 2012. It reported a net profit of $9 million, including the loss from discontinued operations, compared to net loss of $235 million reported in the last quarter, and $265 million profit that it reported in the same quarter, last year. RIM also announced that its Chief Information Officer, Robin Bienfait, has announced retirement. Bienfait will continue to support RIM in an advisory capacity to enable a smooth launch and seamless transition. Highlights - The revenue breakdown for the quarter was approximately 60% for hardware, 36% for service and 4% for software and other revenue. - During the last quarter, RIM shipped approximately 6.9 million BlackBerry smartphones and approximately 255,000 BlackBerry PlayBook tablets. - RIM reported BlackBerry subscriber base of approximately 79 million users, down from 80 million users, last quarter. It's interesting to note that RIM has not reported the number of users accessing its BBM service. - RIM reported a cash increase of approximately $600 million to $2.9 billion. Cash flow from operations was approximately $950 million. Future: Although RIM's over all subscriber base has declined from quarter to quarter, RIM will be unveiling its next generation operating system, BlackBerry 10, on January 30, 2013. The company also claims that beta trials of BlackBerry Enterprise Service 10 are underway at more than 120 enterprises including 64 Fortune 500 companies. RIM…

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