By Mark Graham, 22 June 2001 13:25
NEWS Research In Motion's first quarter results were in line with expectations thanks to strong sales from its Blackberry wireless emailing paging device ramping up its profits tenfold. RIM's Blackberry, which is very popular among financial services, accounted for 65 per cent of the Canadian company's sales. Blackberry is now used by 210,000 subscribers within 9,700 organisations. Revenue was up from $27.1m at the same period last year to $77m this year. In a statement RIM said it was happy with the results considering the "difficult market environment" and predicted its revenues for the current quarter would be between $80-85m. Meanwhile RIM competitors Palm and Handspring have recently issued earnings warnings due to slowing consumer demands. However, RIM said directing sales towards governments and other industries, as financial sector interest waned slightly, will help it meet its target.
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