Research in Motion just announced their Q2 FY2012 results for the quarter ended August 27, 2011, and they seem to indicate just what everyone suspected.
Its revenue in the second quarter dropped to $4.2 billion, down 15% from the last quarter and down 10% from Q2 2010. Its net income has dropped to just $329 million, less than half what it was in the last quarter.
Blackberry smartphone shipments dropped to 10.6 million, while Playbook shipments were just 200,000. It’s very likely that this number is the number of Playbooks shipped to retailers, and not actual sales. Compared to the sales of the Apple iPad, this is a laughable figure.
The results have been much lower than expectations. Investors have started dumping the stock already, with $RIMM down more than 18% in after-hours trading.
Rumors suggest that the Blackberry Playbook may soon be going the HP Touchpad way. Blackberry is banking on its new OS 7 devices to boost sales in the next quarter, but that seems to be a remote possibility for now. It seems that RIM’s future depends on the success of the QNX platform that it plans to launch in 2012.
You can download the earnings release for Q2 FY12 here – Research In Motion Reports Second Quarter Fiscal 2012 Results