RIM posts terrible fourth quarter results, loses its CTO, COO, and former co-CEO
RIM has posted its fourth quarter financial results. They’re bad.
Revenue for the fourth quarter of fiscal 2012 was $4.2 billion [ … ], down 25% from $5.6 billion in the same quarter of fiscal 2011.
A quarter of RIM’s business has been wiped out in just one year. Net income (profit) is even worse (you can ignore the word “GAAP”):
The Company’s GAAP net loss for the fourth quarter of fiscal 2012 was $125 million [ … compared with] GAAP net income of $934 million, or $1.78 per share diluted, in the same quarter of fiscal 2011.
That’s a billion dollar swing towards the negative in just one year. It’s hard to comprehend that kind of change, especially considering that RIM hasn’t done much to stop it.
In a ridiculously worded sentence, RIM reported that both its CTO and COO are leaving the company:
In addition, David Yach...
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