ref="http://www.cityam.com/company/blackberry">BLACKBERRY owner Research In Motion has beaten off concerns over the smartphone market to deliver record third-quarter results.
Revenue rose 40 per cent on the previous year and 18 per cent over the quarter to $5.49bn (£3.52bn), above forecasts of $5.4bn, as customers flocked to its new touch-screen Torch model. Net income rose 45 per cent to $911.1m, from $628.4m the previous year. “RIM’s business continues to grow and diversify as BlackBerry adoption accelerates in markets around the world,” co-chief executive Jim Balsillie said.
The Canadian company shipped 14.2m phones in the quarter, a similar level to Apple iPhone sales, but analysts remained concerned that stiff competition from Apple and Google leaves its position insecure.
Software firm Oracle also reported stronger than expected growth in third quarter new software sales.