Research In Motion today announced its Q4 and year-end results for its fiscal 2010 year. Revenues were US$4.08 billion for the fourth quarter and US$14.95 billion for the fiscal year. 80 percent of revenues came from device sales which reached 10.5 million in the fourth quarter and 37 million for the entire year.
“RIM has completed another outstanding fiscal year with record revenue, earnings and subscriber results. Our company and partnerships continued to thrive within one of the most dynamic industries in the world. We managed to significantly expand our international market share while also maintaining our longstanding leadership in North America where BlackBerry continues to be the top selling smartphone brand,” said Jim Balsillie, Co-CEO at Research In Motion. “We are off to a great start in fiscal 2011 and expect strong shipments, revenue, subscriber and earnings growth in Q1. We are also very excited about our portfolio of products and services for the coming year and we continue to see exceptional opportunity for sustained growth.”
In the past fiscal year, RIM’s subscriber base grew 65 percent. It now has over 41 million subscriber accounts after adding another 4.9 million in the last quarter alone.
Analyst expectations for the fourth quarter had been higher, triggering an after-market slump in RIM’s stock price. Analysts appear to be particularly worried about RIM’s fortunes in North America. Much of RIM’s growth came from international markets while it faces increasingly stiff opposition in the North American market from Apple and its iPhone and Google Android devices such as the Motorola Milestone/DROID. Will RIM’s upcoming new devices (including the rumoured BlackBerry 9100 and BlackBerry slider be enough to fend off the competition and allow it to remain the most popular smart phone in the U.S. market?