RIM posts $235mln net loss for Q2September 28, 2012 - 20:25 AMT PanARMENIAN.Net - Research In Motion has posted a smaller-than-expected quarterly loss, sending its shares up nearly 18% in after-hours trading, according to BBC News. The maker of the Blackberry also boosted its cash pile, as it nears the launch of its next-generation devices. RIM reported a net loss of $235mln (£145mln) for the second quarter, ending 1 September, compared with a profit of $329mln for the period last year. Excluding one-time restructuring items, the loss was $142mln. RIM increased its cash to about $2.3bn from $2.2bn. Being able to dip into a cash reserve could be key to a successful launch of RIM's line of revamped smartphones that will run on its new Blackberry 10, or BB10, operating system. The struggling company has staked its future on BB10. Once a smartphone pioneer, RIM's fortunes have faded as rivals such as Apple and Samsung have taken market share. Thorsten Heins, chief executive of the Ontario-based firm, said: "Despite the significant changes we are implementing across the organization, our second quarter results demonstrate that RIM is progressing on its financial and operational commitments during this major transition." RIM said it shipped 7.4 million Blackberry smartphones in the quarter and 130,000 BlackBerry PlayBook tablets. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | SBP instant transfers now available from 190 Russian banks to Armenia To receive money from Russian banks, easywallet users need to go to their easywallet accounts. Armenia's Davit Chaloyan qualifies for Paris Olympics The Armenian boxer qualified for Paris Olympics after a series of successful bouts at the 2nd World Qualification Tournament. Lemkin Institute urges Armenia to respect people’s right to dissent The Lemkin Institute has urged the Armenian government to respect people’s fundamental human right to express their dissent. French-Armenian journalist returns to France after 41-day hunger strike Nicolian said on social media on Sunday, June 2 that he needs to improve his health in order to “continue the fight”. |