Research in Motion (RIM) surprised the market by posting better than expected results for its second-quarter 2013 financials.
The BlackBerry maker posted $2.9bn (£1.8bn) revenue for the quarter, up two per cent on the $2.8bn in Q1, but down 31 per cent from the $4.2bn in the same quarter of fiscal 2012. The vendor posted a net loss of $235m, including $136m in pre-tax restructuring costs for the quarter.
However, on the positive side the firm reported that its subscriber base had increased to 80 million globally and its cash and cash equivalents increased by about £100m to $2.3bn at the end of Q2.
Thorsten Heins, president and chief executive of RIM, was upbeat, but admitted the vendor still had a long way to go.
"Despite the significant changes we are implementing across the organisation, our second-quarter results demonstrate that RIM is progressing on its financial and operational commitments during this major transition," he said.
"Subscribers grew to approximately 80 million global users, revenue grew sequentially from the first quarter, cash, cash equivalents, short-term and long-term investments increased by approximately $100m to $2.3bn, and carriers and developers are responding well to previews of our upcoming BlackBerry 10 platform," he added.
"Make no mistake about it, we understand that we have much more work to do, but we are making the organisational changes to drive improvements across the company, our employees are committed and motivated, and BlackBerry 10 is on track to launch in the first calendar quarter of 2013.”
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