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RIM Profits Up; Future Expectations Down

1:37 am on December 22, 2005 | Category: Business, Corporate, Mobile Devices

BlackBerry maker, Research in Motion has reported an impressive profit in the third quarter, but new subscriber forecasts have been lowered for next year.

Profits for the third quarter were $120.1 million, which amounts to $0.61 a share. This amounts to a 33% increase over the $90.4 million profit in the same period last year. Revenues were up 53% to 560.6 million.

RIM currently has 4.3 million active customers, but this number to grow timidly for the foreseeable future.

Although RIM has recently had some encouraging news surrounding its patent litigation problems, they claim that the whole process of the NTP lawsuit has put a dent in their sales and will likely continue to do so until the litigation is completely resolved.

The company doesnâ€™t seem too concerned at this point, however, as they have left revenue forecasts alone for the time being. They are currently expecting sales of between $590 million and $620 million for the three-month period that began on November 26th.

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