Storming the market
We've become accustomed to big year-on-year revenue falls since the global recession really took hold, so it's pleasantly surprising to see a technology company showing healthy growth regardless.
Research in Motion (RIM) is the company behind the Blackberry range of push email mobile phones. It announced its results for the quarter and year ending 28 February 2009 and they will have been well received by RIM shareholders, if not its competitors.
Quarterly revenues of $3.46 billion were nearly 25 percent up on the previous quarter and a massive 84 percent up on the same quarter a year ago. Coincidentally RIM's annual revenue of just over $11 billion was also 84 percent up on the previous year. The vast majority of RIM's revenue comes from sales of the devices themselves and its shares were up around 20 percent on the news.
"RIM experienced an extraordinary year in fiscal 2009, shipping our 50 millionth BlackBerry smartphone and generating $11 billion in revenue," said RIM co-CEO Jim Balsillie. "Looking ahead into fiscal 2010, we see exceptional opportunities for RIM and its partners to leverage the investments and success of the past year to continue growing market share and profitability."
