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RIM reports loss of $235 million, 7.4 million smartphones shipped in Q2 2013

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BlackBerry logo stock (1020)
BlackBerry logo stock (1020)

RIM just released its Q2 2013 financial report, claiming a loss of $235 million on revenues of $2.9 billion. The troubled smartphone maker shipped 7.4 million smartphones in the quarter and approximately 130,000 PlayBook tablets. On the bright side, losses were less than last quarter — when the company lost over half a billion dollars — and revenues were slightly up as well. Year over year, revenues were down 31 percent. Unlike last quarter, RIM did not announce plans to cut more jobs, which may provide some consolation to the remaining staffers there.

RIM reiterated in its earnings announcement that it now has 80 million BlackBerry subscribers and that it is still on track to launch its BlackBerry 10 platform in the first quarter of next year. BlackBerry 10 represents a significant shift for the company, and RIM is pinning its hopes of success in the smartphone market on the new platform. The company still has $2.3 billion in cash and assets on hand, which is actually an increase from the $2.2 billion it had last quarter. RIM still has a while before BlackBerry 10 arrives, meaning that we will likely see a couple more rough quarters before things turn around, assuming they do, of course.

The company is holding a conference call to discuss the report with investors this afternoon, and we will be tuning in to hear what it has to say.