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RIM reports fiscal Q3 earnings: profits down 71 percent on $5.17 billion revenue

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RIM announced its Q3 earnings this morning, and the numbers don't look good — revenue is down 6 percent, and profits dropped 71 percent.

Bold 9790 and Curve 9380
Bold 9790 and Curve 9380

RIM announced its third-quarter earnings today, and it's not a pretty picture. The company reported earnings of $265 million — 51 cents per share — for the quarter, down 71 percent from $911 million from the same quarter a year ago. The number isn't all about declining smartphone sales, though — it includes the $485 million hit the company took thanks to unsold PlayBooks, as well as a $54 million charge from the worldwide outage it suffered this fall. There is one small bright spot: RIM's $5.17 billion in revenue was down just 6 percent from $5.5 billion last year. 14.1 million BlackBerry smartphones were shipped in the quarter, matching RIM's projections, along with 150,000 PlayBooks. RIM said it expects to ship between 11 and 12 million more smartphones in the next three months.