BlackBerry sells a million Z10s

RIM, makers of Blackberry announced thursday its profit in the fourth fiscal quarter ended March 2 was $98 million, compared with a loss of $125 million in the same period a year earlier. The results can be credited to company's release of its new smartphones based on the new BlackBerry 10 platform which is highly regarded as its best hope at regaining traction after suffering staggering losses in market share in recent years.
The Waterloo, Ontario based company unveiled its new platform 30th January, as it changed its corporate name from Research in Motion to BlackBerry. But sales launches have been staggered, depending on the region. In the United States, the new phones went on sale just last week.



From wsj

Research In Motion Ltd.,  showing a burst of staying power amid two years of dwindling sales and eroding market share, beat most analysts' expectations early Thursday by reporting a surprise profit and maintaining a strong cash position in its fiscal fourth quarter—the first period to include any sales of its new BlackBerry Z10 smartphone, which appears to be selling well so far.
RIM said it lost about three million subscribers and said its co-founder and former co-chief executive, Mike Lazaridis, was stepping down from the board, where he had served since early last year as non-executive vice chairman.
Mr. Lazaridis has no plans to sell down his 5.7% holding of RIM shares, he said in an interview. "I remain one of the largest shareholders," he said.
The Waterloo, Ontario-based company said it shipped 6 million smartphones during the quarter, including about one million BlackBerry Z10 units, which came in above estimates. The Z10 was only available for about a month in the quarter in smaller markets like Canada the U.K., and was released in the U.S. after the quarter ended.
RIM said its BlackBerry subscriber base dropped to about 76 million in the quarter ended March 2, from about 79 million a year earlier.
RIM said it earned $98 million, or 19 cents a share, compared with a loss of $125 million, or 24 cents, a year earlier.
Adjusted earnings came in at 22 cents a share, well ahead of the loss of 29 cents a share that analysts were expecting, according to a Thomson Reuters poll. This marks the second quarter in a row RIM has posted a profit after several quarters of losses.
Revenue dropped to $2.68 billion from $4.18 billion a year earlier, and was below the $2.85 billion analysts were RIM, which now operates globally as BlackBerry, said its cash position was unchanged at $2.9 billion at quarter-end compared with the end of the third quarter. That could cheer investors who had feared that the marketing ramp-up with the Z10 would harm the company's cash holdings.
The company said it expects to break even next quarter and that marketing costs for its new phones will increase 50%.
Mr. Lazaridis' departure comes after he and longtime co-CEO Jim Balsillie stepped down as co-chiefs of the company early last year. Since then, current Chief Executive Thorsten Heins has slashed jobs, reorganized top management and made the successful launch of the Z10, which runs off a new operating system, the company's top priority. He also initiated a wide ranging strategic review. While he has suggested he's open to a wide range of options, including a sale of the company, he has also said he's focused for the time being on rolling out RIM's new line of phones. RIM didn't provide any update to the strategic review in an earnings release before markets opened.
"With the launch of BlackBerry 10, I believe I have fulfilled my commitment to the Board," Mr. Lazaridis said in a statement. "I believe I am leaving the company in good hands. I remain a huge fan of BlackBerry and, of course, wish the company and its people well."