RIM earnings soar more than 50% in Q2

Research In Motion's fiscal second-quarter profit and revenue more than doubled, boosted by strong sales of its flagship BlackBerry products, an Associated Press report said.

The Associated Press report said for the quarter ended September 1, the Canadian company earned $287.7 million up from $140.2 million in the same period a year earlier.

Revenue more than doubled to $1.37 billion from $658.5 million, the report said.

Analysts, on average, were expecting a profit of $0.50 per share on revenue of $1.36 billion, according to a poll by Thomson Financial, the Associated Press report also said.

'Revenue, earnings and subscriber additions are all at the high end ranges we guided in June,' Jim Balsillie, co-chief executive, was quoted by the report as saying.

Balsillie said markets outside North America represent about 32% of their subscriber base, and that consumers represent over 30% of their subscribers.

RIM has been targeting the consumer market after enjoying success in the corporate market for years.

In its outlook, RIM said it expected revenue for the upcoming third quarter of $1.60 million to $1.67 billion, the report said.

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