RIM posts smaller than expected loss; shares surge

Home Forums RIM posts smaller than expected loss; shares surge

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    Technology News

    A logo of the Blackberry maker's Research in Motion is seen on a building at RIM Technology Park in Waterloo(Reuters) – Research In Motion reported a smaller-than-expected quarterly loss on Thursday and boosted its cash cushion, sending its shares soaring more than 7 percent. But the struggling BlackBerry maker also recorded the first-ever decline in its subscriber base, barely a month before the crucial launch of the new BB10 smartphone line. RIM reported a loss of $114 million or 22 cents a share, excluding one-time items. Analysts, on average, had forecast a loss of 35 cents a share, according to Thomson Reuters I/B/E/S. RIM shares, which closed 3.6 percent higher at $14.12 on Thursday, rose 7. …

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