Research In Motion's profit surges

Research In Motion Ltd. reported a fourth-quarter profit that more than doubled from a year ago, as the maker of the BlackBerry smart phone added more than 2 million new subscribers.

RIM said it earned $412.5 million, or 72 cents a share, compared with $187.4 million, or 33 cents a share, a year ago. Revenue climbed to $1.88 billion from last year's sales of $930.4 million.

The results topped the estimates of analysts surveyed by FactSet Research, which forecast RIM to earn 71 cents a share on $1.86 billion in sales.
In premarket action, shares of RIM rose as much as 3% to $119. The stock fell $1.69 in Wednesday's regular session to close at $115.79.

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- Posted: 2008-04-03 08:51:19

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