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RIM posts impressive second quarter, expects even better third quarter

Chris Ziegler

Coming off some negative press in the hands of the Torch, RIM would just like to remind everyone that it's still selling a crap ton of BlackBerrys... and it's got the cash to prove it. The company's second-quarter results are out, showing revenue growth of 31 percent year-over-year and shipment growth of 45 percent over the same period -- up to 12.1 million, meaning the company has now shipped a grand total of around 115 million devices bearing the BlackBerry label. Of those 12.1 million shipments, about 4.5 million accounted for new account activations, meaning that the company isn't simply keeping existing customers in the fold with new hardware -- it's still managing to sell noobs on the platform, too (or at the very least, there are still companies out there forcing BlackBerrys into new employees' pockets). Net income was up a tick against the prior quarter, though a stock repurchase of around $1.5 billion means that RIM finished out Q2 with significantly less cash on hand than it had in Q1, around $2.03 billion at the moment. The company's forecasting even better third quarter numbers, too, with somewhere between 5 and 5.4 million new account activations and EPS up another 16 to 24 cents. High hopes for the Curve 3G and BlackBerry 6 upgrades, perhaps?

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