RIM numbers way up in Q1

WATERLOO – BlackBerry maker Research in Motion Ltd. posts a 33% gain in profit in its first quarter, RIM-logo111X74.jpgbut its guidance disappoints some investors. The company earns $643 million ($1.12 per share) compared with $482.5 million ($0.84 per share) in the same period in fiscal 2009. Revenue shoots up 53% to $3.42 billion, due in part to roughly 3.8 million new subscribers. However, discrepancy between the company’s guidance for Q2 and expectations on the street sees shares drop 5% on Nasdaq. RIM’s stock has more than doubled since March, and the company says it now has 55% share of the US smart phone market. Click here for the full financial report.

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