From DailyTech: For embattled Canadian phonemaker Researcher in Motion, Ltd. (TSE:RIM), there was rare good news on Thursday. The company announced its fiscal Q2 2013 results, and they handily beat the average analyst consensus. Coming into the earnings report a mood of gloom and doom was pervasive, with many predicting the quarter to be a final nail in the tentative coffin for the smartphone maker. A poll of 36 analysts by Financial Times showed a consensus of $2.53B USD in revenue, a prediction which ZDNet's Larry Dignan described as "ugly", remarking, "[A] miss wouldn't surprise anyone." But instead there was a surprise: RIM defying the odds and posting significantly better-than-expected financials. RIM's actual revenue was $2.9B USD -- blowing past the analyst average by almost 15 percent. That still was only good for a (GAAP) net loss of $235M USD (down from a profit of $329M USD a year ago in fiscal Q2 2012) [1][2]. However, that's substantially better than the $518M USD loss RIM posted a quarter ago. The smaller loss comes largely thanks to RIM's downsizing and "efficiency" efforts, which involved laying off nearly a third of its workforce. View: Article @ Source Site |
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