RIM Reports Higher Profits
TORONTO (Reuters) - BlackBerry maker Research In Motion (RIM.TO)(RIMM.O) reported a higher fourth-quarter profit on Wednesday that topped expectations, and delivered a strong outlook that suggested the company is comfortably weathering the slowdown in the U.S. economy.
RIM's shares, which roughly tripled in 2007 but have stagnated since the start of this year, rose 6 percent in after-hours trading as investors reacted to the results, which were also lauded by analysts.
The company said it earned $412.5 million, or 72 cents a share, in the three months ended March 1. That was up from a profit of $187.4 million, or 33 cents a share, in the same period a year earlier.
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