RIM's revenue up 47 per cent despite formal SEC probe
RIM's Q4 and full year 2007 revenue show a healthy bank balance and strong user demand for handhelds and associated software and services.
![](https://cdn.mos.cms.futurecdn.net/VXeLFjihdR6DtvKP35wNP9-320-80.jpg)
Research in Motion (RIM) yesterday released its latest set of financial results, which showed that the company has enjoyed bumper growth in the past few months and last year as a whole.
Even the announcement that a US Securities and Exchange Commission (SEC) probe into stock option practices has been turned into a formal investigation did not overshadow RIM's results glory.
During the quarter ending March 3, in which RIM added more than one million new subscribers, revenue was $930.4 million, up 66 per cent from the same period the year before.
Almost three-quarters (73 per cent) of the revenue generated during the three months came from handhelds, with the remaining portions coming from services, software and other areas of the business.
Full year results were equally as rosy with more than six million devices shipped during the period and revenue generation of $3.0 billion, a 47 per cent increase in the $2.1 billion the company reported last year.
"We are entering fiscal 2008 with very healthy subscriber growth momentum, a strong slate of products and services, exceptional partnerships and a growing market leadership position," said Jim Balsillie, RIM's co-chief executive.
"We look forward to building on this momentum and further extending the market opportunity for RIM and its partners in the coming year."
Get the ITPro. daily newsletter
Receive our latest news, industry updates, featured resources and more. Sign up today to receive our FREE report on AI cyber crime & security - newly updated for 2024.
Maggie has been a journalist since 1999, starting her career as an editorial assistant on then-weekly magazine Computing, before working her way up to senior reporter level. In 2006, just weeks before ITPro was launched, Maggie joined Dennis Publishing as a reporter. Having worked her way up to editor of ITPro, she was appointed group editor of CloudPro and ITPro in April 2012. She became the editorial director and took responsibility for ChannelPro, in 2016.
Her areas of particular interest, aside from cloud, include management and C-level issues, the business value of technology, green and environmental issues and careers to name but a few.
Why are so many AI projects destined for failure? Inexperienced staff, poor planning, and a shoehorned approach to agile development are all stifling innovation
So you lost your job at Klarna to AI – at least your former coworkers get a pay rise
Oracle can do for AI what it did for cloud – and CloudWorld 2024 is its chance to show that
Most Popular
Resources
Get the ITPro. daily newsletter
Receive our latest news, industry updates, featured resources and more. Sign up today to receive our FREE report on AI cyber crime & security - newly updated for 2024.