Research In Motion Ltd. reported a sharply higher second-quarter profit Thursday as sales more than doubled on sizzling demand for its BlackBerry wireless e-mail device.
RIM said net income soared to $70.6 million, or 36 cents per share, in the second quarter ended Aug. 28, from $2.1 million, or 1 cent per share, in the corresponding period last year.
Excluding a litigation provision of $18.3 million, it said its adjusted net income was $88.9 million, or 45 cents a share. The litigation provision stems from its legal battle with U.S.-based patent-holding company NTP.
The Waterloo, Ontario-based firm said second-quarter revenues rose to $310.2 million from $125.7 million.
Analysts had expected an adjusted profit of 43 cents per share, on revenues of $309 million, according to Reuters Estimates.
When it reported first-quarter results, RIM forecast second-quarter revenue would be in the range of $290 million to $310 million, with earnings per share between 32 cents and 37 cents, or 40 cents to 45 cents on an adjusted basis.