RIM sells 50 millionth BlackBerry, stock soars on earnings

03.04.2009
Research In Motion Limited (RIM) stock soared in after-market trading after the company posted solid financial results and said it sold its 50 millionth BlackBerry smartphone.

The company's fourth quarter, which ended on Feb. 28, provided some relief to people who thought the recession had taken the wind out of the entire tech sector.

RIM reported record high revenue of US$3.46 billion in the quarter, up 84 percent compared to the same time last year, as it shipped 7.8 million devices, also a new high for the company. Net profit for the quarter rose to $518.3 million, up from $412.5 million last year.

RIM added 3.9 million new BlackBerry subscriber accounts.

The company's stock, which rose 7.6 percent to $49.09 during regular hours on the Nasdaq, soared another 23.4 percent in after-hours trading to $60.58.

RIM's results were reported after regular Nasdaq trading ended.