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BlackBerry Company RIM Turns Big Profit, But Outlook Disappoints Analysts

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TORONTO (Reuters) - Research In Motion (RIM.TO: Quote, Profile, Research, Stock Buzz)(RIMM.O: Quote, Profile, Research, Stock Buzz) reported a higher first-quarter profit on Wednesday as it continued to sign up subscribers for its BlackBerry smartphones at a rapid clip, but its shares dropped 8 percent in late trading as the results and outlook fell short of analyst expectations.

RIM said it earned $482.5 million, or 84 cents a share, in the three months ended May 31. That was up from a profit of $223.2 million, or 39 cents a share, a year earlier.

Read the whole story at Reuters