RIM boost earnings and subscribers in Q1

BlackBerry producer Research In Motion (RIM) boosted earnings and grew its customer base during its first fiscal quarter.

RIM increased revenue by 53% in the quarter to end of May, up from the same quarter last year, to $3.42 billion. The figure was slightly down on Q4 revenues of $3.46 billion, although this was in line with analyst expectations. Earnings for the quarter were $643 million.

Devices accounted for 81% of revenue, services 13% and software 2%, with 4% from other sources.

The company shipped around 7.8 million devices during the quarter, and added 3.8 million new BlackBerry subscribers to its global base of 28.5 million.

Jim Balsillie, Co-CEO of RIM commented: “We are starting fiscal 2010 with strong financial performance and impressive market share gains, including a 55% share of the US smartphone market according to IDC’s latest estimate.

“The industry leading BlackBerry product portfolio is driving strong customer demand around the world and our penetration of new market segments continues to expand. We are particularly excited about the strength of our product portfolio for fiscal 2010 and we are looking forward to driving continued growth and profitability in our business throughout the remainder of the year,” he added.

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