RIM announces Q4 revenue miss as top executives leave company
Research In Motion announced lower-than-expected fourth quarter fiscal earnings Thursday, as concerns over the company’s future continue to mount. It also announced the resignation of former co-CEO and board member Jim Balsillie.
The BlackBerry maker reported quarterly revenue of $4.2 billion, down 19 percent from the $5.2 billion reported in the previous quarter and down 25 percent from the $5.6 billion it reported in the same quarter last year.
RIM CEO Thorsten Heins, who took the position in January, attributed the decline to the bring-your-own-device (BYOD) trend threatening its traditional enterprise user base, a continuously shrinking U.S. subscriber base, and increased competition in international markets.
