BlackBerry maker posts big loss but not as bad as expected

Jamaica Observer

September 28, 2012

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TORONTO, Canada (AP) – BlackBerry-maker Research In Motion posted another large quarterly loss on Thursday, but the bleeding was not as bad expected.

The Canadian company is still losing market share in North America, where it struggles to compete with Apple’s iPhone and phones that run Google’s Android software. But it has stepped up sales in developing markets and actually increased its subscriber base and cash position.

RIM’s stock surged more than 20 per cent in after-market trading on the news.

The company reported Thursday that it lost $235 million, or 45 cents a share, in its fiscal second quarter, which ended Sept 1. That compares with a profit of $419 million, or 80 cents per share, a year ago.

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