RIM posts disappointing Q1 results

Research in Motion posted weaker than expected results for the company's first quarter, adding 592,000 new BlackBerry subscribers. That brings RIM's BlackBerry subscriber base to 3.11 million. RIM reported revenues of $453.9 million, up from $269.6 million in the same quarter last year. The company posted a net income of $110.1 million. RIM has yet to give any more details on its legal battle with holding company NTP. More of NTP's patents were recently rejected by the US government, throwing the future of RIM's settlement with NTP into question.

Despite the strong growth, RIM's shares dipped in trading as financial analysts questioned the company's prospects for growth. While RIM remains the mobile email market leader, the company is now facing real competition from a number of sources, including palmOne's Treo line of smart phones. RIM's subscriber growth was also disappointing, with some analysts expecting much bigger numbers.

For more on RIM's first quarter:
- read this report from SoftPedia