RIM Earnings Show Heat From iPhone, Android
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Being first to market doesn't mean you'll get to keep it. Research in Motion is finding that out. It was one of the originators of the whole "smartphone" concept with its BlackBerry phones, which were nicknamed "CrackBerries" because people obsessively used them. But times change and challengers emerge. Apple and Google have entered RIM's playground with their own smartphones, and RIM is starting to feel it in its quarterly numbers. How hard is RIM being hit? Find out in Enterprise Mobile Today.
There was a time when, to many in the business community at least, "smartphone" pretty much meant a BlackBerry from Research In Motion (NASDAQ: RIMM). But today, the company facing white-hot competition from Apple and Android, which have both come on strong and grabbed away precious market share. Not just that, but in the past 12 months, while Apple's stock price has doubled, RIM has lost 20 percent share.
The results are starting to show in RIM's latest quarterly earnings. For its first fiscal quarter ended May 29, the enterprise smartphone vendor reported earnings of $769 million, or $1.38 a share, up 19.5 percent from $643 million, or $1.12, in the same period last year. Revenue rose 24 percent to $4.24 billion from the same quarter of last year