The woes for Waterloo based company – Research in Motion just don’t seem to come to an end. BlackBerry maker posted Q1 results for 2013 – recording its first ever operational loss.
RIM announced a $0.37 net loss per share, more than the estimates of a $-0.01 net loss per share. Revenues for the quarter were $2.8 billion, while the Wall Street estimated Q1 revenues to be $3.11 billion. The company also reported a net loss of $518 million.
These figures are very depressing for the workers as well as BlackBerry fans like myself, to add insult to injury RIM will be cutting 5,000 jobs in the near future.
RIM also announced that it will not be releasing BlackBerry 10 OS or devices powered by same till Q1 2013. They said that they will continue to sell OS7 devices aggressively!
Tough times ahead for RIM.