News: Page (1) of 1 - 09/27/12

Instant view: RIM reports quarterly loss but cash pile grows

US-RIM-RESULTS-INSTANTVIEW:Instant view: RIM reports quarterly loss but cash pile grows

(Reuters) - Research In Motion Ltd reported a smaller-than-expected quarterly loss on Thursday and the struggling BlackBerry maker managed to increase its cash pile in the run-up to the launch of its make-or-break line of next generation devices.

Having sufficient cash on hand is seen as crucial to a successful launch of RIM's line of revamped smartphones that will run on its new BlackBerry 10, or BB10, operating system.

The company has staked its future on BB10. A one-time smartphone pioneer, RIM has watched the BlackBerry lose market share in recent years to the likes of Apple Inc's iPhone and Samsung Electronics Co's Galaxy.

COMMENTARY:

SHAW WU, ANALYST, STERNE AGEE

"Much better than feared, for sure. We had thought there was a chance this could happen, because everyone had been so negative and expecting a disaster.

"It's still bad, but it's a much smaller disaster than expected. These stocks all trade on expectations. Expectations were really low, and they were able to beat that."

"They shipped more than a million better than expected. They also lost a lot less money than expected, and the cash balance, even though they lost money, they were able to grow it slightly."

(Compiled By Frank McGurty)

Page: 1

Related Keywords:US , RIM , RESULTS , INSTANTVIEW