BlackBerry Maker RIM Posts Loss; Cutting 5,000 Jobs

TORONTO — Struggling BlackBerry maker Research in Motion is reporting worse results than analysts had expected for its latest quarter, and says it’s cutting 5,000 jobs. It’s also delaying the launch of its new phone operating system, BlackBerry 10, on which it’s pinning its hope for a comeback. Research in Motion Ltd.

Research in Motion posts revenue of $2.9 billion and an adjusted loss of $142 million — better than expected, but worse than a year earlier.

Let?s be clear here: survival of Research In Motion as a going concern is becoming a questionable proposition. The BlackBerry maker today announced a slew of bad news. The company posted a much larger than expected loss for the fiscal first quarter ended May 31 than anyone expected. RIM is cutting 5,000 jobs, about 30% ...

BlackBerry maker Research In Motion said Thursday it swung to a loss in its most recent quarter, in disappointing first results for the struggling device maker under its new chief executive.The Waterloo, Ontario firm posted a net loss of $125 million for its fiscal fourth quarter to March 3, compared with a profit of $418 million a year earlier.That dragged down the full fiscal 2012 profit to $1.16 billion, down sharply from $3.4 billion a year earlier as RIM battled against Apple's iPhones and iPads and an onslaught of Android-powered devices.

Executives from the BlackBerry maker Research In Motion (RIM) were grilled Tuesday by investors over the company's recent dismal performance. RIM has announced massive layoffs and its shares are trading at a nine year low. With the launch of the BlackBerry 10 delayed until next year, RIM's survival is considered to be at stake.