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Instant view: RIM reports quarterly loss but cash pile growsUS-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.
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)
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