Research In Motion Ltd. reported fourth-quarter earnings on Thursday that matched recently reduced estimates and forecast weaker-than-expected growth for its BlackBerry e-mail device in the current quarter.
RIM posted a fourth-quarter net profit of $18.4 million, or 10 cents a share, in the period to March 4, versus a net loss of $2.6 million, or 1 cent a share, in the corresponding period a year earlier.
RIM, which agreed last month to pay patent holding company NTP Inc. $612.5 million to settle a legal dispute, said adjusted earnings were 65 cents a share. That excludes settlement and litigation charges and the related tax impact.
Analysts expected earnings before exceptions of 65.1 cents a share and revenue of $556.6 million, on average, according to Reuters Estimates. Subscriber growth was seen at 625,000.
Revenue in the quarter rose 39 percent to $561.2 million from $404.8 million and RIM added 625,000 subscribers.
In highly anticipated estimates for its first quarter, the Waterloo, Ontario-based company said it expects to add about 675,000 subscribers.
Analysts expected the company to add anywhere between 700,000 and 780,000 subscribers in the first quarter, according to several sources.
RIM sees first-quarter adjusted earnings in the range of 62 to 67 cents per share and revenue ranging from $580 million to $610 million.
Analysts had expected earnings before exceptions of 76 cents a share and revenue of $620.7 million.