Research In Motion Ltd. (Nasdaq: RIMM) gained 15 1/8 to close at 98 9 1/6 Friday after the maker of BlackBerry handheld computers and other mobile devices reported a smaller-than-expected loss for the second quarter ended August 31st.
Revenue for the quarter rose to $42.5 million from $19.3 million in the same period last year, driven by strong subscriber growth for the BlackBerry. The company posted a net loss of $1.6 million, or 2 cents per share, compared with net income of $2.3 million in the year-earlier quarter. Analysts were looking for a loss of 3 cents in the latest quarter.
The company said the loss is a result of increased spending on marketing and other efforts to increase the BlackBerry’s subscriber base.
Users and corporate information technology departments now accept the BlackBerry wireless e-mail system as a “mainstream business tool,” said chairman Jim Balsillie. The company, he said, now intends to work with its distribution partners “to further penetrate the enterprise market and enter the consumer market.”
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