Although last quarter was less than kind on RIM, and the economic downturn continues to impose an uphill battle, they’ve managed to up revenues by 7.9% in the third quarter, totalling $2.78 billion. The BlackBerry Storm November 21st. launch just barely squeezed into Q3, which ended on November 29th., but the BlackBerry Bold also launched earlier that month on AT&T, which in the end provided a Q3 that largely fell in line with RIM’s estimates. Forecasts for the final quarter of 2008 remain good, according to co-CEO Jim Balsillie.
“RIM launched an unprecedented number of BlackBerry smartphones in the third quarter and these new products are being adopted at an even faster pace than we expected. Our industry leading product portfolio is positioned well to capitalize on the increasing market opportunity in the fourth quarter of fiscal 2009 and beyond.”
Overnight trading was active over the report, dipping yesterday night and closing and closing at $38.44 but opening at $40.77. It’s going to be a rocky day for RIMM traders, what with so much contention regarding the long-term effects of the iPhone 3G’s positioning against the BlackBerry Storm, so be sure to keep an eye on our financial channel to stay up to date on the latest.