Research In Motion Limited (USA) (NASDAQ:RIMM) Beats, Shares Spike

Research In Motion Limited (USA) (NASDAQ:RIMM) Beats, Shares Spike
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Research In Motion Limited (USA) (NASDAQ:RIMM) (TSE:RIM) has just released its earnings for the third fiscal quarter. The stock has been climbing steadily in the last couple of days, and it continued its climb as investors saw that it beat expectations for sales during the third quarter.

Research In Motion Limited (USA) (NASDAQ:RIMM) Beats, Shares Spike

This latest earnings report was for the company’s quarter ending Nov. 30, 2012. Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM) reported sales of $2.73 billion, which beat out the expected sales of $2.66 billion.

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The company reported an adjusted earnings per share loss of 22 cents, compared to analysts’ consensus of a 35 cent loss per share.

Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM) reported sales of 6.9 million BlackBerrys and 255,000 Playbook tablets. It also reported $2.9 billion in cash, an increase of $600 million. Revenue came in at $2.7 billion, a 48 percent decrease from a year ago.

In this earnings report the company also reported that its CIO will be retiring and warned that it will bump marketing for the new BlackBerry 10 system.

At this point investors are still looking forward to the launch of the BlackBerry 10. It’s set to be unveiled on Jan. 30, although it has not yet been made clear when it will be available for sale. This launch is considered by many tech analysts to be the deciding factor in whether RIM lives to fight another day or undergoes some major restructuring. The company has been struggling to regain its market share against the iPhone and Android phones.

Shares of Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM) have been especially volatile this year as investors considered whether the BlackBerry 10 will have enough juice to turn the company’s losing streak around. In September the company’s stock hit the lowest price it’s been at in approximately 10 year, although the stock has largely recovered in recent weeks, probably because  of anticipation due to the upcoming unveiling of the BlackBerry 10.

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