RIM just reported its third quarter 2012 earnings and noted a loss of $0.22 per share, which beat analyst expectations of a $0.35 loss per share. The company also reported $2.7 billion in revenue, down 5% from the second quarter and down an incredible 47% from the same quarter last year. Still, it beat Street estimates of $2.65 billion. RIM said it shipped 6.9 million BlackBerry smartphones during the quarter.
"RIM continued to execute on its product roadmap plans and to deliver on key financial metrics as it gets set for the global launch of BlackBerry 10," said Thorsten Heins, President and CEO. "During the third quarter, we continued to demonstrate our strong financial position, generating $950 million in cash flow from operations, and increasing our cash position significantly to more than $2.9 billion. More than 150 carriers are currently completing technical acceptance programs for the first BlackBerry 10 products, and beta trials of BlackBerry Enterprise Service 10 are underway at more than 120 enterprises including 64 Fortune 500 companies. This is an exciting time and our carrier partners, application developers and employees are all looking forward to unveiling the innovation and excitement of BlackBerry 10 to our customers on January 30, 2013."
As Heins notes, the company is relying heavily on its new BlackBerry 10 operating system to sway its fortunes, but will it be enough? We'll know more on Jan. 30 when the company takes the stage in New York City to show the world what it has been working on for more than a year.