RIMM Profits Surge
Research in Motion (RIMM) today announced that its fourth quarter profit and sales more then doubled. This shows that the Blackberry maker has not been affected by the slowing US economy.
For the quarter Research in Motion earned $412.5 million, or 72 cents per share, up from a profit of $187.4 million, or 33 cents per share, in the same period in the year prior.
Revenue was up from $930 million to a staggering $1.88 billion.
After hours RIMM stock has moved up 5% and is currently trading above $121 a share. The stock is up over 50% from its 52 week low of $80.20 hit back in January of this year.
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POSTED IN: Earnings
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